South Koreaโs Prosecutor-General has promised a โthorough reviewโ of the cryptocurrency sector amid growing โpublic suspicionโ about politicians and their cryptocurrency holdings.
Per Yonhap, Prosecutor-General Lee Won-seok stated his agency would โfaithfully investigateโ the sector.
And he pledged to โresolve public suspicions about cryptoassets.โ
Lawmakers and prosecutors are tryingย to fight a wave of outcry sparked by the Coin Gate scandal.
Earlier theseย 30ย days, a leading MP was reportedly found to have traded coins with โinsider knowledgeโ of next cryptocurrency regulations.
A range of other states has likewise been made about the MP, Kim Nam-kuk.
Onย theย otherย hand, some feel Kim may not be the only lawmaker to have alleged crypto-related secrets.
Lee distanced himself from cryptocurrency, saying:
โI have never owned stocks or cryptoassets. That wonโt be change in the future.โ
Speaking to media representatives outside the Suwon District Prosecutorโs Office, Lee stated that prosecutors would tackle issues such as โ cryptoย token listings on exchanges.โ
Plentyย of leading cryptocurrency exchange officials have this year been charged with price manipulation.
It has resurfaced they allegedly took bribes in exchange toย beย listed cryptoย tokens on their platforms.
In South Korea, cryptoย altcoin prices tend to spike sharply when news of listing on a major domestic platform is announced.
Several are thought to have artificially engineered these spikes by paying officials to fast-track their coinsโ listing processes.
South Korean Prosecution Responding to Cryptocurrency Scandal?
Lee pledged to investigate crypto-related โ financing problems.โ
And he stated he would resolve a range of crypto-related โ speculation problems.โ
Seoul has likewise been rocked by states that senior lawmakers oversaw crypto-powered โremittancesโ to North Korea-linked parties.
Lee arguedย that he would be guided by โthe evidenceโ available and โdealโ with possible legal infringements โ reportsย by the law.โ
The Prosecutor-General further arguedย that prosecutors would continue to tackle the โdrug problem.โ
President Yoon Seok-yeol theย previousย 30ย days declared โall-out warโ on crypto-powered drug trafficking as an increasing number of narcotics-trading teens have been handed jail sentences.
Public figures have wasย known on all lawmakers and regulatoryย authorities to declare their cryptocurrency holdings.
