South Korea passes a new bill mandating public officials and candidates to disclose their cryptocurrency holdings starting in 2024, while also imposing limits on investment amounts as part of an effort to enhance transparency and accountability within the public sector.
In a unanimous decision, South Korean lawmakers have passed a new bill mandating public officials and candidates to disclose their digital currency holdings starting in 2024.
The legislation, informed by local news outlet Chosun-Ilbo, not only demands transparency but likewise imposes restrictions on the financing amounts allowed for officials engaged in the digital currency sector.
An amendment to the Public Service Ethics Act
Starting from Jan. 1, 2024, high-ranking public officials in South Korea, including National Assembly members, will be obligated to disclose their digital currency holdings, irrespective of the quantity owned.
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