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An investigation into the digital asset transaction record of all sitting members of the South Korean parliament revealed they traded almost $100 million in crypto over a three-year period.
After a three-month-long investigation, South Korea’s Anti-Corruption and Civil Rights Commission published a report revealing members of the country’s National Assembly bought or sold an estimated 125.6 billion Korean won ($97.6 million) from May 30, 2020, to May 31, 2023.
National Assembly Traded Nearly $100 Million in Crypto
The Anti-Corruption and Civil Rights Commission published a report after concluding an investigation into the digital asset transaction records of all 298 South Korea’s National Assembly members.
The investigation delved into the digital asset transaction history of all members of the National Assembly between May 30, 2020, and May 31, 2023. The Commission discovered that 18 of the lawmakers had records of digital asset possession during the time, while only 11 of the 298 members were responsible for the total transaction volume over the investigation period.
According to the report, 108 crypto assets were found in the members’ portfolios, with Bitcoin being the most favoured.
Scandal Forces Lawmakers to Report Digital Asset Holdings and Transactions
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Author: Jana Serfontein
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