Saturday, December 21

South Korean National Assembly Members Purchased Nearly $50M Worth of Crypto in 3 Years

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Throughout the time duration in between May 30, 2020, and May 30, 2023, the South Korean National Assembly members bought crypto worth 62.5 billion won (approx $48 million) and offered crypto worth 63.1 billion won (approx $48.6 million)

This year, South Korea is increase its efforts for crypto policy. After finding some political leaders are associated with suspicious crypto trading, the focus has actually been on supervising their crypto activities.

Almost 6% of South Korean National Assembly Members Own Crypto

There has actually been a boost in the appeal of cryptocurrency among South Korean National Assembly members.

An examination performed by the Anti-Corruption and Civil Rights Commission exposes that in 2022, just 8 members owned 24 various crypto possessions. By 2023, the number had actually increased to 17 members, holding 107 types of crypto properties. This number comprises almost 6% of all South Korean National Assembly members.

The examination covered 36 domestic virtual properties company. Jeong Seung-yoon, the acting chairman of the Anti-Corruption and Civil Rights Commission, stated:

“This virtual possession examination was performed relatively in accordance with the law and concepts in cooperation with pertinent firms.'”

Learn more: Crypto Regulation: What Are the Benefits and Drawbacks?

Throughout the examination duration, the members’ most trading crypto was Bitcoin (BTC). From 2020 to 2023, the National Assembly members bought $48 million worth of crypto in overall, while they likewise offered $48.6 million worth of crypto.

There were likewise some disparities in the information supplied by 10 members southern Korean National Assembly.

BeInCrypto reported in May 2023 that the South Korean National Assembly passed a costs needing legislators to divulge their crypto holdings. The costs was talked about as opposition political leader Kim Nam-kuk deals with claims of suspicious crypto trading.

Learn more: 7 Best Pro Accounts for Crypto Trading

Do you have anything to state about South Korea National Assembly members’ crypto trading or anything else? Compose to us or sign up with the conversation on our Telegram channel. You can likewise capture us on TikTok, Facebook, or X (Twitter).

For BeInCrypto’s newest Bitcoin (BTC) analysis, click on this link.

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