South Korea’s Democratic Party requires preliminary candidates for next year’s general election to disclose virtual asset holdings

South Korea’s Democratic Party has decided to require preliminary candidates for next year’s general election to disclose their virtual asset (cryptocurrency) holdings. Han Byung-dao, chairman of the Democratic Party’s strategic planning committee, said: “Everyone’s consensus is that the ethical review of candidates should be strictly strengthened. We have decided to verify whether candidates have conflicts of interest in virtual assets from the screening stage of the review committee. If false reports are made, we will be held accountable. Legal liability; once discovered, corresponding severe measures will be taken (disqualification of candidates, etc.)." (Hankyung)