The leadership of the government of the Republic of Korea believes that it is necessary to include cryptocurrencies in the list of assets subject to declaration by government officials.

Prime Minister Han Duck-soo’s initiative will be discussed in the country’s parliament in the near future.

“The National Assembly can discuss and decide whether to include virtual currency in the property registration of high-ranking officials. I think that it should be included,” the prime minister told reporters.

Earlier, the South Korean financial service informed the local prosecutor’s office about a series of suspicious cryptocurrency transactions made by a member of parliament. Democratic Party of Korea representative Kim Nam-kuk allegedly withdrew 800,000 WEMIX tokens from late February to early March 2022. From January to February 2022, Kim’s assets on WEMIX amounted to 6 billion won ($4.5 million).

In April, the Central Bank of Korea announced that it was tightening its control over the activities of virtual asset service providers (VASPs) and cryptocurrency issuers by requesting transaction data from crypto exchanges.

Last year, the South Korean Financial Services Commission (FSC) announced that it would monitor investors’ crypto transactions worth more than 100 million won ($70,000). In the fall, the department, together with the National Assembly, began working on a bill that would punish crypto exchanges for hiding information and manipulating prices.