South Korea Working on Early Enforcement of Crypto Laws
Rep. Yun Jae-ok, the floor leader of PP made the remarks to reporters. He asked for preponing the en force ment of crypto rules currently scheduled for December. Representative Jae-ok added that the current timeline is too late and the bill shall be revised for an additional clause moving up the en force ment. advertisement On Monday, May 22, the lawmakers passed the revision to the Public Service Ethics Act via a parliamentary subcommittee. As reported by local news publication Yonhap News, Yun Jae-ok asked a leader of the Public Administration Committee to propose a modified version. The representative said: “Given the current high level of public interest, especially regarding lawmakers, it’s not appropriate to en force the law six months later after the promulgation”. Crypto Laws to Force Lawmakers to Declare Their Holdings The bill also asks lawmakers and other government officials to report cryptocurrencies in their annual asset dis...