The Prime Minister of South Korea has publicly demanded that government personnel reveal their crypto holdings

According to reports, Prime Minister Han Deok-soo thinks it’s a good idea to allow cryptocurrencies to be used when registering property.

Local media in South Korea reports that Prime Minister Han Deok-soo is among those pushing for government personnel to declare and register their crypto holdings.

On May 17, during a news conference held in the Sejong Government Complex, the prime minister was said to have stressed the need to include cryptocurrency holdings in the property register of senior government employees.

Prime Minister Han reportedly told reporters that the National Assembly “can fully discuss and decide” whether or not to incorporate digital currency in property registration. This is according to a Google-translated version of the news. A quote from the prime minister: “Personally, I think it’s right to put it in (in the property registration).”

The Prime Minister compared the need to register a company to the requirement to register other important assets. There is already a need to report ownership of a specific amount of precious metals, and he suggested that the same may be true with cryptocurrencies.

There are currently no guidelines for how or whether public officials should report their crypto holdings. Legislator Kim Nam-kuk’s massive crypto holdings became public knowledge recently, prompting requests for comprehensive inquiries into the cryptocurrency assets of lawmakers and whether or not they are included in property registrations.

The Korea Financial Intelligence Unit is looking into allegations that Kim sold $4.5 million worth of crypto just before the Financial Action Task Force’s “Travel Rule” went into effect.

Also Read: The French Authority Has Said, “We Welcoming U.S. Crypto Companies That Are Leaving”