CandleFocus South Korean Lawmaker Sells $85,700 in Bitcoin Amid Political Scandals; Others Join in Liquidating Crypto Assets
2024-09-23
Author: Content Editor
South Korean lawmakers have been distancing themselves from cryptocurrency, with many selling off their holdings and ending up with only small amounts, known as "crypto dust." This comes after a series of political scandals involving crypto and increased scrutiny on politicians' involvement with cryptocurrencies. The scandals have led lawmakers to publicly declare their crypto holdings before elections. Before the upcoming elections in April 2024, only 36 out of 300 lawmakers in South Korea reported holding cryptocurrencies, with the total worth of their holdings amounting to a negligible percentage of their overall assets.
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