Lawmakers in South Korea Secretly Made $100 Million Bitcoin and Crypto Transactions. 🇰🇷🥷🏻🪙
South Korean lawmakers have grabbed attention with their recent report on cryptocurrency transactions. According to the December 29 report from the South Korean Commission for the Combat of Corruption and Civil Rights, 298 members of parliament have engaged in cryptocurrency trading, totaling $97.6 million over the past three years.
The report specifies that these transactions occurred between May 30, 2020, and May 31, 2023. It highlights that only 18 lawmakers participated in cryptocurrency transactions, involving a total of 107 different cryptocurrencies.
A notable point in the report is the lawmakers' preference for including Bitcoin predominantly in their portfolios. However, in May, a Democratic Party member's $4.5 million investment in Wemix (WEMIX) attracted public attention, leading to criticism of the parliamentarian's cryptocurrency investment.
In response to this incident, the South Korean government took action, requiring state officials to declare their cryptocurrency transactions. The involvement of South Korean lawmakers in the cryptocurrency world may spark a new debate both in the public and within the administration in the country.
