No products in the cart.
- Latest
- Trending
ADVERTISEMENT
According to South Korean cryptocurrency news, a law has been passed requiring government officials to disclose all cryptocurrency holdings.
The National Assembly’s attempt to adopt the bill means that bitcoins and other crypto assets held by South Korean parliamentarians and other senior government officials must be made public.
according to locals report According to News1, the country’s parliament unanimously passed the “Kim Nam Guk Prevention Law” on Monday, May 22, and approved it in a plenary session on Thursday, May 25, 2023.
The bill came into force just days after it was revealed that former opposition lawmaker Kim Nam-Kook had about $4.5 million worth of crypto assets on the Wemix exchange. The revelation caused an uproar and suspicions of money laundering surfaced.
South Korea’s revisions to the National Assembly Act and the Civil Service Ethics Act require public officials to comply with the law when holding cryptocurrencies.
Specifically, affected individuals must declare all cryptocurrency holdings of $760 or more. This requirement is for disclosures about cash, stocks and bonds, among other assets.
According to South Korean cryptocurrency news, a law has been passed requiring government officials to disclose all cryptocurrency holdings.
The National Assembly’s attempt to adopt the bill means that bitcoins and other crypto assets held by South Korean parliamentarians and other senior government officials must be made public.
according to locals report According to News1, the country’s parliament unanimously passed the “Kim Nam Guk Prevention Law” on Monday, May 22, and approved it in a plenary session on Thursday, May 25, 2023.
The bill came into force just days after it was revealed that former opposition lawmaker Kim Nam-Kook had about $4.5 million worth of crypto assets on the Wemix exchange. The revelation caused an uproar and suspicions of money laundering surfaced.
South Korea’s revisions to the National Assembly Act and the Civil Service Ethics Act require public officials to comply with the law when holding cryptocurrencies.
Specifically, affected individuals must declare all cryptocurrency holdings of $760 or more. This requirement is for disclosures about cash, stocks and bonds, among other assets.
