#Cryptocurrency Holding Restrictions for South Korean Public Officials to Be Re-evaluated#

The South Korean government recently requested all government agencies to re-evaluate the implementation of restrictions on cryptocurrency holdings by public officials. This move stems from concerns that public officials may use their positions to gain access to virtual asset information and engage in favoritism. The Ministry of Personnel Management has requested agencies to review their compliance and submit reports by January 31. The ministry specifically emphasized that not only agencies dealing with virtual asset policies, drafting and enforcing regulations, but also those involved in promoting economic and industrial policies, may be subject to restrictions on accessing virtual asset information. This move indicates that the South Korean government is strengthening its regulation of cryptocurrency holdings by public officials, aiming to prevent conflicts of interest and maintain the government's credibility.