There’s a rumor of a conflict of interest around the South Korean opposition lawmaker Kim Nam-Kuk over crypto transactions. The growing domestic outrage alleged that Kim liquidated over $4 million worth of crypto assets before the lawmakers would enforce the Financial Action Task Force Travel Rule. Lawmaker Moves Crypto Funds Before Implementation Of Law A report from the news outlet, The Korea Times disclosed the joint investigation by the Korean authorities and the country’s Financial Intelligence Unit (FIU) on Kim. The investigation is based on the allegation that Kim withdrew 800,000 WEMIX tokens between February and March 2022. Between January and February 2022, Kim of the Democratic Party of Korea reportedly held 6 billion Won in his digital wallet. However, the lawmaker was accused of transferring all his crypto holdings before the authorities could implement the Travel Rule on March 25, 2022. Related Reading: Bitcoin Bull Run In Jeopardy As Parabolic SAR Flips Bearish On Daily Chart It is important to note that regulations mandate all crypto service providers to disclose the personal information of investors involved in trades exceeding a value of ..
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