South Korean lawmakers approved a law today that would require lawmakers and senior officials to report their cryptocurrency investments, South Korea's local news agency News1 reported.
According to the report, South Korea's National Assembly unanimously passed the bill called "Kim Nam-guk Prevention Act", which forces lawmakers and senior public officials to report on Bitcoin (BTC) and cryptocurrencies.
The approved bill also included amendments to the "National Assembly Act and the Civil Service Ethics Act".
The bill was accepted with the 'yes' vote of all 269 deputies present.
As it is known, South Korea has recently come to the fore with the transfer of large amounts of crypto money by some members of the National Assembly.
Taking a step against this, the government approved a bill that forces lawmakers and senior public officials to report on crypto assets to prevent this situation.
The requirement to report crypto assets under this bill came into question after rumors surfaced that former Democratic Party lawmaker Kim Nam-kuk has 6 billion won ($4.5 million) worth of cryptocurrencies.