Lawmaker leaves South Korean opposition party over crypto holdings.
A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities.Kim Nam-kuk, a representative in the South Korean National Assembly, announced he will leave his political faction amid a growing scandal surrounding his alleged cryptocurrency dealings.
On Wednesday, the Democratic Party of Korea, the main opposition force in the parliament, urged Kim to sell off the assets, a call that the first-term lawmaker accepted. The party’s ethics committee launched a probe into his coin trading which has been suspended now.The South Korean politician reportedly withdrew all his coins last March, ahead of the enforcement of the so-called ‘’ in the country.
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