South Korean Politicians Accuse Each Other of Crypto Misconduct Ahead of Election
South Korean politicians are accusing one another of crypto-related wrongdoings ahead of parliamentary elections in the nation on April 10.
The country will go to the polls in just over a week to elect members of the National Assembly.
The parliament is currently dominated by the Democratic Party. But President Yoon Seok-yeol’s People’s Power Party is hoping to secure a victory. Pollsters are predicting a tight race.
But with crypto-related scandals like Coin Gate still raging, candidates have alleged that their opponents are holding on to secret crypto stashes.
Media outlets in the East Asian country have accused politicians of “mudslinging” in the lead-up to the election.
And many of these “mudslinging” allegations center around the sensitive subject of crypto.
Many of these allegations stem from mandatory public crypto disclosures. These disclosures were made public in late March.
The disclosures revealed that several major public figures – including some of the nation’s most senior judges – hold Bitcoin and altcoins.
Lawmakers and National Assembly candidates were also legally required to submit disclosures.
And, per Jose Ilbo, People’s Power representatives were keen to point out on April 1 that Suwonjeong, Gyeonggi Province’s Democratic Party candidate Kim Jun-hyuk, has considerable BTC holdings.
Kim’s declaration revealed he is holding at least $84,000 worth of Bitcoin. A senior People’s Power official asked rhetorically if it was “proper” for a political candidate to own so much crypto while Coin Gate investigations continue.
The People’s Power Party called on Kim to step down. The party claimed that Kim had also failed to disclose farmland holdings.
The outspoken Kim has claimed that President Yoon’s “overly obedient”
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