A South Korean court has issued an arrest warrant for President Yoon Suk Yeol, who has been impeached and suspended from office following an attempt to impose martial law domestically in early December.
On December 31, the Western District Court of Seoul approved the arrest warrant, marking the first time in history that a sitting president of South Korea faces an arrest warrant from the court.
Investigators requested an arrest warrant after President Yoon failed to appear for the third questioning session. The arrest warrant was requested by a joint special investigation unit, including the National Investigation Office of the National Police Agency of South Korea, the Corruption Investigation Office for High-Ranking Officials (CIO), and the Criminal Investigation Command of the Ministry of National Defense.
The joint investigation unit submitted a request on December 30. The Corruption Investigation Office announced that the arrest warrant must be executed within seven days from the date of approval, although this timeframe may be extended if necessary.
Currently, Deputy Prime Minister and Minister of Finance Choi Sang-mok is serving as the acting leader of South Korea after Yoon was stripped of power on December 14, when the parliament passed a resolution for his impeachment.
Martial law and the decline of Bitcoin and cryptocurrencies
On December 3, President Yoon announced martial law in a live televised speech, citing the need to "eliminate anti-state elements" and deal with "threats from North Korean communist forces."
This move has led to a temporary downturn in the cryptocurrency market both domestically and internationally. On South Korean exchanges, including UpBit, the price of Bitcoin plummeted, losing up to $30,000 within six hours. Analysts suggest that the liquidity crisis was exacerbated by the "disappearance of major investors" at that time.
On international trading platforms, the prices of major cryptocurrencies such as Bitcoin, Ethereum, and XRP also recorded declines of up to 4%, reflecting a negative market reaction to this news.
However, cryptocurrency prices quickly rebounded after the South Korean parliament requested President Yoon to lift the martial law on December 4.
Yoon's attempt to impose martial law came just one day after South Korea witnessed the second-highest retail trading volume of the year, with investors flocking to a range of "high-momentum" altcoins, including XRP, Dogecoin (DOGE), and Stellar (XLM).
https://tapchibitcoin.io/south-korea-issues-arrest-order-for-impeached-president-yoon.html
