This year, South Korea is ramping up its efforts for crypto regulation. After discovering some politicians are involved in suspicious crypto trading, the focus has been on overseeing their crypto activities.
Nearly 6% of South Korean National Assembly Members Own Crypto
There has been an increase in the popularity of cryptocurrency amongst South Korean National Assembly members.
The investigation covered 36 domestic virtual assets service providers. Jeong Seung-yoon, the acting chairman of the Anti-Corruption and Civil Rights Commission, said:
“This virtual asset investigation was conducted fairly in accordance with the law and principles in collaboration with relevant agencies.’”
During the investigation period, the members’ most trading crypto was Bitcoin (BTC). From 2020 to 2023, the National Assembly members purchased $48 million worth of crypto in total, while they also sold $48.6 million worth of crypto.
There were also some discrepancies in the data provided by 10 members of the South Korean National Assembly.
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