The South Korean government officially banned government officials from owning and trading currency.
Government officials, even if they are not related to South Korea’s financial regulators, will not be able to own and trade a crypto currency, in order to avoid a conflict of interest situation in the regulation of the local market.
Officer, quit the crypto
The decision of the South Korean Government to ban officials from participating in the trade in crypto-currencies was made after it was discovered that several officials from the Financial Services Commission were engaged in insider trading, selling crypto currency until the Minister of Justice Park Sang-ki said about the direct ban turnover kriptovalyut (which turned out to be untrue).
The representative of the opposition South Korean party Kim Song-tae said earlier this year that several government officials were engaged in insider trading of crypto-loans before the speech of the Minister of Justice.
In response to the accusations, the authorities recognized the fact of insider trading by the Financial Services Commission and imposed a ban on trade aimed at government officials.
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