#Cryptocurrency Holding Restrictions for South Korean Public Officials to Be Re-evaluated#

The South Korean Ministry of Personnel Management has requested all government agencies to re-evaluate the implementation of restrictions on cryptocurrency holdings by public officials and submit a report by January 31. The request specifically emphasizes that not only agencies dealing with virtual asset policies, drafting and enforcing regulations, but also those involved in promoting economic and industrial policies, may be subject to restrictions on accessing virtual asset information. This move indicates that the South Korean government is re-evaluating restrictions on cryptocurrency holdings by public officials and may further strengthen regulations on public officials in the cryptocurrency field. This initiative may be related to a shift in the South Korean government's regulatory stance on the cryptocurrency market, which previously adopted a relatively lenient regulatory approach towards the cryptocurrency industry but has recently begun to strengthen oversight of cryptocurrency exchanges and investors.