NEWS BRIEF

[Anchor Lead]

Prime Minister nominee Kim Boo-kyum is planning to address the recent cryptocurrency frenzy once he receives parliamentary approval and takes office. Kim said Monday it seems that a great deal of preparations are needed to handle the issue. He then added that no one should not fall victim to the latest investment craze. Regarding the Financial Services Commission chairman’s controversial remarks about cryptocurrencies, the prime minister nominee said that Eun Sung-soo appeared to have intended to cool down the overheated market, as the government experienced difficulties due to digital currencies in its early days.
According to the Ministry of Economy and Finance on Monday, cryptocurrencies are still not subject to the mandatory asset registration rule, which is required upon civil servants in accordance with the public service ethics law. Therefore, there is no way to punish public officials who don't report their possessions of digital currencies and violate the asset registration rule. In a government gazette released last month, no details of cryptocurrency holdings by high-ranking government officials were revealed.