South Korean Prime Minister Han Deok-soo is calling for senior public officials to disclose and register their cryptocurrency assets, local media has reported.
In a press conference held at the Sejong government complex on May 17, the prime minister stressed the importance of including crypto assets in the property registry of senior public officials.
Premier Han told reporters that the question of whether high-ranking officials should include the digital currency in the land registry “it can be fully discussed and decided in the National Assembly.” According to the report, the prime minister shared that “Personally, I think it is correct to put it (in the land register).”
To support his position, the prime minister drew a parallel with the registration of other valuable assets. He mentioned that it is currently mandatory to register a certain threshold for precious metals, and that similar requirements could apply to cryptocurrency holdings.
Currently, there is no obligation to disclose cryptocurrency holdings, and each official decides for himself whether to disclose such assets.
The recent disclosure of National Assembly deputy Kim Nam-kuk’s significant cryptocurrency investments has prompted calls for a thorough investigation into cryptocurrency holdings of policymakers and their inclusion in property registries.
Kim is currently under investigation by the Korean Financial Intelligence Unit for allegedly liquidating about $4.5 million worth of cryptocurrency prior to the implementation of the Financial Action Task Force’s “travel rule.”
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.