South Korean legislator Kim Jang nam announced his withdrawal from the Democratic Party on suspicion of engaging in data encryption transactions under digital currency laws. This politician indicates that he will fight again to prove his integrity alone
According to Kim Jong un's statement, his departure will alleviate the pressure caused by dissent among Communist Party members. In his view, at a critical moment, various issues should no longer endanger the party. When leaving the party, Kim Jong un emphasized that he would still support the political faction.
In addition, the politician also emphasized that as a separate due process, he will continue to work hard to uncover the truth. He said, "We will persevere in uncovering unfair political crimes.
Jin accused the news media of the her cryptocurrency transactions, stating that such reports were unfounded and promising to resist.
On May 8th, the legislator was accused of settling over $4 million worth of encrypted assets before the country's implementation of the Financial Action Task Force's "tourism standards" in March 2023. The government is still investigating the politician's alleged violations
The South Korean central bank has been continuously increasing its supervision of the country's cryptocurrency. On April 24th, the Bank of Korea approved research on cryptocurrency related projects. That way, financial institutions can request transaction data information from local cryptocurrency network operators.
On the other hand, Han Zheng is considering a central bank digital currency for offline payments. On May 15th, Samsung Electronics collaborated with the People's Bank of China to explore the offline level of CBDC
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