In a historic move, South Korean governor Ahn Hee-jung has become the first politician to disclose his cryptocurrency holdings in the country. After months of struggling against fierce opposition from the public, Ahn decided to become the first official to disclose his cryptocurrency holdings. He released his 23 cryptocurrency holdings on the South Korean social media network, Yizumi, recently.

South Korean governor Ahn Hee-jung has become the first politician in the country to make his cryptocurrency holdings public. In a report released by the governor on Wednesday, he revealed that he had holdings worth approximately $50,000 across three different currencies—Bitcoin, Ethereum, and Ripple. The report, which was distributed by South Korea’s National Election Commission, also shows that Ahn plans to donate the cryptocurrency to charity and return the gains to the South Korean government.

South Korean politician Jeon Jae-hee announced on Thursday (June 28) that he has invested an undisclosed amount of money in cryptocurrencies such as Bitcoin and Ethereum. This is the first time a South Korean politician has admitted to investing in cryptocurrencies. “I thought that if I am not able to understand the asset, I should just avoid it,” said Jeon.. Read more about new cryptocurrency and let us know what you think.

South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the Country Regardless of the political turmoil in South Korea over the regulation of cryptocurrencies, a prominent politician has come forward to denounce the fact that he has publicly invested in virtual currencies. Won Hee Ryong, governor of Jeju Island, said he has invested in four different cryptocurrencies.

Wong plans to keep people updated on the status of his cryptocurrency holdings via Youtube.

According to Chosun newspaper, the politician, who is president of a semi-autonomous province in the country, admitted to buying bitcoin (BTC), Ethereum (ETH), Somsing (SSX) and the Kakao-issued Klay (KLAY) token with a total value of 1 million won ($885). Won justified his purchases by what he thought: I had to do it. With this announcement, the governor of Jeju Island becomes the first politician to publicly disclose his cryptocurrency assets in South Korea. I wonder what Vaughn was commenting on: Although more than 5 million people already trade virtual assets, losses continue to occur due to inadequate laws and policies. I will try to do it myself, talk to the public and find alternatives, what the problem is and how the virtual asset sector can be developed. He welcomed the fact that virtual currency trading is possible even on vacation. In fact, Wong revealed that he bought his cryptos for Buddha’s birthday. Additionally, one of his plans for digital assets is to provide updates on his holdings via a YouTube channel and open the door to discuss blockchain and Industry 4.0 with experts.

The governor has gained national prominence for his advocacy of cryptocurrencies, which has prompted him to launch projects in the semi-autonomous province. In 2018, a few months after his election, Vaughn wanted to work on an Initial Coin Offering (ICO) project that would result in the launch of the Jeju Coin token. Although ICOs are banned in South Korea, the island has a special legal status that allows the governor to circumvent these legal hurdles. At the time of publication, there are no further developments in this matter. What do you think of the cryptocurrency assets disclosed by a South Korean politician? Let us know your comments in the section below. Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.

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