Through the time interval between Might 30, 2020, and Might 30, 2023, the South Korean Nationwide Meeting members bought crypto value 62.5 billion received (approx $48 million) and bought crypto value 63.1 billion received (approx $48.6 million)
This yr, South Korea is ramping up its efforts for crypto regulation. After discovering some politicians are concerned in suspicious crypto buying and selling, the main target has been on overseeing their crypto actions.
Almost 6% of South Korean Nationwide Meeting Members Personal Crypto
There was a rise within the reputation of cryptocurrency amongst South Korean Nationwide Meeting members.
An investigation carried out by the Anti-Corruption and Civil Rights Fee reveals that in 2022, solely 8 members owned 24 totally different crypto belongings. Nonetheless, by 2023, the quantity had elevated to 17 members, holding 107 kinds of crypto belongings. This quantity makes up practically 6% of all South Korean Nationwide Meeting members.
The investigation lined 36 home digital belongings service suppliers. Jeong Seung-yoon, the appearing chairman of the Anti-Corruption and Civil Rights Fee, stated:
“This digital asset investigation was carried out pretty in accordance with the legislation and ideas in collaboration with related businesses.’”
Learn extra: Crypto Regulation: What Are the Advantages and Drawbacks?
Through the investigation interval, the members’ most buying and selling crypto was Bitcoin (BTC). From 2020 to 2023, the Nationwide Meeting members bought $48 million value of crypto in whole, whereas additionally they bought $48.6 million value of crypto.
There have been additionally some discrepancies within the information supplied by 10 members of the South Korean Nationwide Meeting.
BeInCrypto reported in Might 2023 that the South Korean Nationwide Meeting handed a invoice requiring lawmakers to reveal their crypto holdings. The invoice was mentioned as opposition politician Kim Nam-kuk faces allegations of suspicious crypto buying and selling.
Learn extra: 7 Greatest Professional Accounts for Crypto Buying and selling
Do you might have something to say about South Korea Nationwide Meeting members’ crypto buying and selling or anything? Write to us or be part of the dialogue on our Telegram channel. You can even catch us on TikTok, Facebook, or X (Twitter).
For BeInCrypto’s newest Bitcoin (BTC) evaluation, click on right here.
Disclaimer
In adherence to the Belief Challenge pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to offer correct, well timed info. Nonetheless, readers are suggested to confirm info independently and seek the advice of with an expert earlier than making any selections based mostly on this content material. Please observe that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.