South Korean Authorities Investigate Lawmaker Over Alleged Crypto Transfers
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There’s a rumor of a conflict of interest around the South Korean opposition lawmaker Kim Nam-Kuk over crypto transactions. The growing domestic outrage alleged that Kim liquidated over $4 million worth of crypto assets before the lawmakers would enforce the Financial Action Task Force Travel Rule. Lawmaker Moves Crypto Funds Before Implementation Of Law A report from the news outlet, The Korea Times disclosed the joint investigation by the Korean authorities and the country’s Financial Intelligence Unit (FIU) on Kim. The investigation is based on the allegation that Kim withdrew 800,000 WEMIX tokens between February and March 2022. Between January and
Seoul police book Bithumb CEO Lee Jae-won on bribery charges tied to a job favor for a South Korean lawmaker’s son. Seoul police have booked Bithumb CEO Lee Jae-won as a bribery suspect. The Seoul Metropolitan Police Agency’s Public Crime Investigation Unit is leading the probe. Investigators allege Lee hired…
The booking of Bithumb CEO Lee Jae-won on bribery charges in Seoul is the latest signal that South Korea’s crypto exchange sector faces deepening regulatory and legal hazards. According to the original report, police are investigating whether Lee helped secure a position at Bithumb for the son of independent lawmaker…