The South Korean National Assembly plans to include virtual assets in the property declaration of public officials

ChainCatcher news, the South Korean National Assembly's Administrative Safety Committee held its first legislative review subcommittee meeting and reviewed the "Public Service Ethics Act Amendment," which includes virtual assets in the property reporting and disclosure of senior officials, including members of the National Assembly. It is reported that under the current "Public Officials Ethics Act" in South Korea, virtual assets are not included in the property declaration. The controversy surrounding Congressman Kim Nam-guk, who left the Democratic Party due to allegations of trading and holding virtual assets, has accelerated the advancement of this amendment.

According to South Korean media reports, the Administrative Safety Committee plans to hold consecutive plenary meetings on the 24th and 25th of this month, aiming to pass the amendment at the plenary meeting on the 25th.

In addition, to prevent legislators with large amounts of virtual assets from jointly proposing a bill to delay taxation on virtual assets. The National Assembly's Special Committee on Political Reform also plans to open the first legislative review subcommittee on the same day to handle a bill that includes virtual assets in the private interest registration of legislators. (source link)