South Korean Regulator Will Force Staff to Declare Crypto
The top South Korean financial regulator will force its employees to declare their crypto holdings in the aftermath of the “Coin Gate” scandal.
Lawmakers in the nation have come under fire for suspected insider trading, with one MP accused of selling his tokens in advance of the rollout of a new piece of crypto regulation.
It has since emerged the MP was serving on a crypto-related parliamentary subcommittee at the time. The fallout of “Coin Gate” has seen MPs, regulators, and other public officials all call for one another to disclose their crypto holdings.
And this, Yonhap reported, has now spread to the staff of the Financial Services Commission (FSC), the nation’s top financial regulator. The FSC is one of the main government agencies charged with regulating the nation’s crypto industry, and has the ability to conduct spot-checks on domestic crypto exchanges.
