According to a news just published by news.bitcoin.com, a new bill was proposed by a South Korean official, that will require to all officials to declare their crypto holdings publicly. Chung Dong-yong, a member of the South Korean National Assembly’s Administrative and Security Committee, who initiated the bill, explained to local media that:

the current Public Service Ethics law excludes cryptocurrency, which has recently emerged as a means of property proliferation

The news gets more meaning if we put all the context around it:

• South Korea is the third crypto trading market in the world
• it is still unregulated
• South Korean Minister of Justice announced they intend to ban crypt, a week ago
• other members of the government distanced themselves from that stance
• meanwhile, 2 officials were discovered to have been trading while being exposed to the above information (kind of insider game, if you want)

That explains the slowdown of the South Korean official declarations towards crypto regulation.

Seems that first they have to realize how much of that trading is done by officials themselves and how they want to deal with it.

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I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.

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