Korea bans officials from "touching" electronic money

Korea bans officials from "touching" electronic money Specifically, the South Korean government has banned officials from holding...

Korea bans officials from "touching" electronic money
Specifically, the South Korean government has banned officials from holding or trading electronic currency, which is also considered the first time South Korea has applied this measure to its officials.


According to Maeil Business, the Korea Human Resources Administration issued a document titled "Virtual Money Information Concerning Civil Servants," said officials are considered to be involved in business operations. Virtual currency transactions "violate the prohibition of civil servant retirement obligations," especially if the execution of virtual currency transactions occurs during business hours, that person will be subject to discipline.
The statement emphasized that the ban would apply to all officials.
During working hours, if other working officials are not involved in the current job, they will be disciplined

Forms of discipline will be enforced in accordance with Korean law.
The Korean government's position on the domestic currency market is sometimes unclear. In December 2017, the South Korean government unexpectedly announced a ban on trading all domestic currency, sparking fierce protests in the country, but shortly afterwards the South Korean government Again, it is "no intention to forbid" or "suppress" virtual currency trading activities in the country.According to Maeil Business, the Financial Services Commission (FSC), the Fair Trading Commission and the Chief of Government Policy Coordination Office, Hong Nam-ki previously warned its employees about investing in Virtual money market.In January 2018, FSS officials were charged with selling insider electronic money. Then FSS director Choi Huyng-sik confirmed the charge.
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High Tech Brain: Korea bans officials from "touching" electronic money
Korea bans officials from "touching" electronic money
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