According to the report, 20% of South Korean officials own crypto assets. Mandatory disclosure has become part of the country's legislation.
Disclosure of Officials' Crypto Assets
The South Korean Government Public Ethics Committee released a report on officials' personal assets, including cryptocurrencies. Out of 2,047 officials, 411 admitted to having crypto assets, making up approximately 20% of the total.
Crypto Asset Leaders Among Officials
Seoul City Councilor Kim Hye-young leads in terms of crypto assets among officials, holding assets worth 1.7 billion KRW. Other top holders include Choi Min-gyu and Kim Ki-hwan.
Regulation and Legislation
Starting in 2024, South Korean officials must disclose their crypto assets, starting from the third grade. The laws require officials to state the quantity and type of cryptocurrencies, while high-ranking officials must also explain the origin of the assets.
The mandatory disclosure of crypto assets has become essential for Korean officials, highlighting the state's efforts to increase transparency in governance.
