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Cryptocurrency: South Korea Passes Bill for Officials to Declare Bitcoin Holdings

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South Korea passes bill to make officials disclose Bitcoin holdings

South Korea passes bill to make officials disclose Bitcoin holdings
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Gov't, party to push for passage of prevention of conflict of interest bill


Gov’t, party to push for passage of prevention of conflict of interest bill
Mar 11, 2021, 08:12 am
Acting DP chairman and floor leader Kim Tae-nyeon speaks during a meeting of the top party council at the National Assembly on March 10, 2021/ Photographed by Lee Byung-hwa (photolbh)
AsiaToday reporter Jo Jae-hak
Amid increasing suspicion of land speculation involving employees of state-run institutions and civil servants, the government and the ruling Democratic Party (DP) decided to speed up the passage of a bill aimed at preventing conflicts of interest involving public officials, which has been stalled for eight years. As the DP vowed to pass the bill with the recent LH scandal, attention is on whether the bill can be approved at the National Assembly.  ....

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South Korean Politicians Won't Be Required to Disclose Their Crypto Holdings After Proposals Failed to Pass the National Assembly


Jan 6, 2021
South Korean Politicians Won t Be Required to Disclose Their Crypto Holdings After Proposals Failed to Pass the National Assembly
South Korean politicians won’t be required to disclose their crypto holdings or crypto-related earnings as no fewer than three cryptocurrency-related bills failed to pass the National Assembly.
Proposal Submitted in November 2020
According to the Electronic Times, the bills aimed to require lawmakers and senior public servants to report all their cryptocurrency holdings and their trading profits, which raised controversy amongst the political sphere.
The proposal was submitted in November 2020 by Min Hyung-bae, a lawmaker of the ruling Democratic Party of Korea and a parliamentary finance committee member, whose rule stated that politicians with $9,200 (10 million won) or more worth of cryptocurrency holdings should submit declarations before the Ethics Committee. ....

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