A new bill requiring South Korean lawmakers to disclose their cryptocurrency holdings has been proposed in Seoul. The legislative initiative comes amid a snowballing scandal surrounding the crypto dealings of an opposition lawmaker whose case has been referred to the parliamentary ethics committee.
New Legislation to Introduce Crypto Reporting Requirements for South Korean Parliamentarians
Representatives of the ruling People Power Party in South Korea’s National Assembly are proposing to oblige lawmakers as well as other public officials and candidates to declare their cryptocurrencies with a draft legislation that was announced before the weekend.
The bill, amending the Public Service Ethics Act, passed through a parliamentary subcommittee on Monday. The current law, which seeks to prevent conflicts of interest, requires lawmakers to disclose cash, stocks, and real estate within 30 days of election but does not mention crypto assets.
Under the new rules, sitting lawmakers must repo
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