South Korea has taken a significant step towards increasing transparency and integrity within its public sector. Starting next year, high-ranking public officials will be required to disclose their cryptocurrency holdings under a new legislation announced by the country’s Ministry of Personnel Management. Under the new legislation, approximately 5,800 public officials must make their crypto and other asset holdings public starting next year. The Ethics Policy Division of South Korea revealed that this information, traditionally reported in official gazettes, will now be accessible through the Public Official Ethics System (PETI).
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