South Korea’s Digital Communications Secretary Kim Nam-guk Acquitted in Crypto Asset Dispute Case
According to a report by Jinse Finance, Kim Nam-kuk, Digital Communications Secretary at the South Korean Presidential Office, has been acquitted at the appeal stage in a lawsuit related to cryptocurrency holdings. He was previously accused of deliberately concealing a large amount of cryptocurrency assets in his parliamentary asset declaration. Prosecutors alleged that, before officially declaring his assets in 2021 and 2022, Kim Nam-kuk transferred funds from cryptocurrency exchanges to bank accounts and then converted them back into digital assets, with the intention of obstructing the ethical review of officials' asset declarations. The indictment in August last year highlighted the controversy of the case and the regulatory pressure on how public officials should declare digital assets.
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