{"id":90341,"date":"2024-03-29T00:01:40","date_gmt":"2024-03-29T04:01:40","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=90341"},"modified":"2024-03-29T00:01:41","modified_gmt":"2024-03-29T04:01:41","slug":"south-korean-judges-hold-bitcoin-and-altcoins-disclosures-show","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=90341","title":{"rendered":"South Korean Judges Hold Bitcoin and Altcoins, Disclosures Show"},"content":{"rendered":"
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Several senior South Korean judges hold Bitcoin, Ethereum, and altcoins, new public disclosure data revealed on March 28.<\/p>\n

Per NoCut News, judges\u2019 holdings up until December 31, 2023, included BTC, ETH, XRP, and Solana coins.<\/p>\n

Trading volumes on South Korea\u2019s market-leading Upbit crypto exchange over the past two weeks. (Source: CoinGecko)<\/figcaption><\/figure>\n

South Korean Judges Make First Crypto Disclosures \u2013 the Details<\/h2>\n

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A long-running scandal dubbed Coin Gate by the South Korean media broke last year. This initially centered on a lawmaker who reportedly sold coins after receiving insider information on forthcoming regulatory changes.<\/p>\n

Since then, the scope of the scandal has expanded to other lawmakers. It has also expanded to senior civil servants and leading judiciary members.<\/p>\n

This led the Supreme Court to rule that senior judges must make annual public declarations of their coin and other asset holdings to avoid possible conflicts of interest.<\/p>\n

Judges\u2019 declarations must also include spouses\u2019 holdings. They must also include details of wallets held in their children\u2019s names.<\/p>\n

Cheongju District Court Chief Justice Lim Byeong-ryeol reported the most sizeable Bitcoin holdings. Lim and his family declared holding BTC 9.92, with BTC 3.38 in wallets under his name.<\/p>\n

Lim\u2019s spouse and eldest son hold the remaining BTC 6.54 in wallets in their names.<\/p>\n

Lim\u2019s spouse and son also reported holding smaller amounts of altcoins \u201csuch as Ethereum, Solana, and XRP\u201d in private wallets.<\/p>\n

Documents show that Seoul High Court Chief Justice Hwang Byeong-ha\u2019s dependents also reported holding BTC 2.07.<\/p>\n

Another Seoul High Court Chief Judge, Kim Bok-hyung, revealed crypto holdings worth some $2,200.<\/p>\n

Meanwhile, Seoul Bankruptcy Court Chief Justice Ahn Byeong-wook and National Court Administration Deputy Director Bae Hyeong-won also revealed that wallets in their children\u2019s name \u201calso contained crypto holdings.\u201d<\/p>\n

The children of Supreme Court Justices Roh Tae-ak, Kwon Young-jun, and Shin Sook-hee also reported that they own cryptoassets, Joongang Ilbo reported.<\/p>\n

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Retail investors dump Tesla, snap up chip, Bitcoin ETFshttps:\/\/t.co\/cWgy91U07z<\/p>\n

\u2014 The Korea Times (@koreatimescokr) March 25, 2024<\/a><\/p>\n<\/blockquote>\n

Judges Hold Unlisted Stocks, Crypto, and Overseas Shares<\/h2>\n

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Judges were also obliged to reveal their total assets, with data showing that several judges hold unlisted domestic stocks, as well as overseas stocks.<\/p>\n

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The Bank of Korea warned a further slump in the real estate sector would undermine broader economic activity https:\/\/t.co\/lEodSOifj6<\/p>\n

\u2014 Bloomberg Markets (@markets) March 28, 2024<\/a><\/p>\n<\/blockquote>\n

Senior South Korean judges seemed particularly keen on blue-chip US stocks. Several declared holding shares in companies like Amazon, Apple, Tesla, and Nvidia.<\/p>\n

Earlier this month, a South Korean law firm operator was sent to jail for stealing clients\u2019 money to spend on private crypto investments.<\/p>\n<\/p><\/div>\n