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South Korea's Digital Communications Secretary Kim Nam-gook acquitted in crypto asset dispute
Aug 21, 2025
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Kim Nam-kuk, the digital communications secretary of the South Korean presidential office, was acquitted in an appeal related to a lawsuit involving cryptocurrency holdings. Previously, he was accused of deliberately concealing a large amount of cryptocurrency assets in his asset declaration as a member of parliament.
Prosecutors alleged that before officially declaring his assets in 2021 and 2022, Kim Nam-kuk transferred funds from some cryptocurrency exchanges to bank accounts and then converted them back to digital assets, in an attempt to obstruct the ethical review of officials' property declarations. The controversial nature of this case and the public pressure on how public officials should declare digital assets were highlighted by the prosecution in August last year.
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