According to a local news outlet, South Korean Prime Minister Han Deok-soo has urged high-ranking public officials to disclose and register their cryptocurrency assets. Emphasizing the significance of including crypto assets in the property registration of these officials, Prime Minister Han made the statement during a press conference held at the Sejong Government Complex on May 17.
Prime Minister Han expressed his belief that the matter of whether digital currencies should be included in property registration could be thoroughly discussed and decided upon in the National Assembly. Personally, he stated that he believes it is appropriate to include crypto holdings in property registration.
To support his position, the prime minister drew a comparison to the mandatory registration of other valuable assets. He noted that there are existing requirements for registering a certain threshold of precious metals, and similar measures could be implemented for cryptocurrency holdings.
Currently, there are no specific obligations for public officials to disclose their cryptocurrency holdings, and each individual decides independently whether to reveal such assets.
The recent disclosure of significant cryptocurrency investments by National Assembly member Kim Nam-kuk has sparked calls for comprehensive investigations into the cryptocurrency holdings of policymakers and their inclusion in property registrations. Kim is currently under investigation by the Korea Financial Intelligence Unit for reportedly liquidating around $4.5 million worth of cryptocurrency prior to the implementation of the Financial Action Task Force’s “Travel Rule.”
