South Korean prosecutors have reported a series of suspicious digital asset transactions carried out by opposition MP Kim Nam-kook. This is reported CoinDesk Korea.
According to the investigation, from late February to early March 2022, the politician allegedly cashed out 800,000 WEMIX tokens. At that time, Kim’s assets were estimated at 6 billion won ($4.5 million).
South Korea’s Financial Intelligence Unit later reported the transactions to the Financial Services Commission, which classified the withdrawals as “suspicious transactions”, passing the data to the prosecutor’s office.
According to Kim, he did not withdraw tokens and did not violate any laws. The MP also noted that there are no reporting requirements for virtual assets in the decree on the ethics of civil servants.
WEMIX was delisted from South Korean exchanges last year due to the issuer of the token, WeMade, allegedly passing on inaccurate accounting data.
Kim Nam-kook co-sponsored an amendment to the Income Tax Act of 2021 that included a tax deferral provision for virtual assets.
Recall that in April 2023, the media reported that the Central Bank of South Korea was preparing to tighten supervision over the crypto sector. The Agency will receive permission to investigate and monitor the activities of affiliated organizations.
Earlier, the local Ministry of Justice announced the implementation of a crypto-transaction tracking system to combat money laundering in the first half of 2023.
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South Korean prosecutors have reported a series of suspicious digital asset transactions carried out by opposition MP Kim Nam-kook. This is reported CoinDesk Korea.
According to the investigation, from late February to early March 2022, the politician allegedly cashed out 800,000 WEMIX tokens. At that time, Kim’s assets were estimated at 6 billion won ($4.5 million).
South Korea’s Financial Intelligence Unit later reported the transactions to the Financial Services Commission, which classified the withdrawals as “suspicious transactions”, passing the data to the prosecutor’s office.
According to Kim, he did not withdraw tokens and did not violate any laws. The MP also noted that there are no reporting requirements for virtual assets in the decree on the ethics of civil servants.
WEMIX was delisted from South Korean exchanges last year due to the issuer of the token, WeMade, allegedly passing on inaccurate accounting data.
Kim Nam-kook co-sponsored an amendment to the Income Tax Act of 2021 that included a tax deferral provision for virtual assets.
Recall that in April 2023, the media reported that the Central Bank of South Korea was preparing to tighten supervision over the crypto sector. The Agency will receive permission to investigate and monitor the activities of affiliated organizations.
Earlier, the local Ministry of Justice announced the implementation of a crypto-transaction tracking system to combat money laundering in the first half of 2023.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
