Over 400 South Korean officials disclose $9.8M in crypto holdings, showing transparency.

From Cointelegraph
March 27, 2025 08:06 AM:

South Korean public officials revealed to hold an average of 35.1 million won ($24,000) in crypto assets. More than 20% of surveyed officials hold 14.4 billion won ($9.8 million) in crypto, with 411 out of 2,047 officials holding crypto assets. The highest disclosed amount was 1.76 billion won ($1.2 million).

In response to calls for transparency, South Korea’s Prime Minister mandated high-ranking officials to disclose their crypto holdings in property declarations. A bill passed in May 2023 required public officials to include crypto assets in their disclosures, granting public access to the holdings of 5,800 officials in 2024.

The legislation arose from controversy involving lawmaker Kim Nam-kuk, who was accused of concealing around $4.5 million in crypto assets. Kim left the Democratic Party amid the controversy, with prosecutors seeking a six-month prison sentence. However, Kim was eventually acquitted as crypto assets were not required to be publicly disclosed at the time.

Read more at Cointelegraph: Over 400 South Korean officials disclose $9.8M in crypto holdings