Korean Officials Quit Jobs to Join Crypto Industry, Lawmaker Reveals
Public officials in South Korea are increasingly choosing career opportunities in the cryptocurrency sector. Some of them come from financial authorities which raises ethical questions, according to the findings of a Korean lawmaker, quoted by local media. Former Financial Officials Hired by Major Korean Exchanges A growing number of officials in Seoul are vacating their government posts and moving to the crypto industry, according to Roh Woong-rae, member of the Korean parliament from the ruling Democratic Party. On Sunday, he called for the introduction of stricter rules....
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Lee Kwang-jae, a South Korean lawmaker, recently stated that he will be accepting cryptocurrency donations starting mid-January 2022. According to the politician, this plan represents his attempt to raise awareness about cryptocurrencies and non-fungible tokens among South Koreans.
Donations to Be Converted Into Korean Won
A Korean lawmaker, Lee Kwang-jae, has said he will start accepting cryptocurrency donations sometime in mid-January of 2022. According to the lawmaker, anyone that wishes to sponsor his campaign will be able to do so by directly transferring funds to his....
Almost two thirds of respondents who quit their jobs after making life-changing gains from crypto had a total income of less than $50,000. Data suggests that some low-paid members of the workforce are quitting their jobs after making life-changing crypto gains. Analytics firm Civic Science posted survey results (weighted according to U.S. census data) on Nov. 1, which shows that 4% of 6741 respondents aged 18 and over had quit their jobs in the past year due to “financial freedom” earned by investing in crypto assets. Civic then cross-referenced the 4% figure with data from 1,201....
The growth of Bitcoin industry, and its huge potential to change the economy has started affecting the traditional finance industry. It can't be more obvious than the brain drain happening from financial sector to the Bitcoin sector. In recent days, many top level executives from well-known financial institutions have switched jobs to join Bitcoin based companies. This brain drain is not just confined to the financial sector, but to other sectors as well, the best example being the Nike's Global Chief Information Officer quitting the company to join BitReserve. READ MORE: Anthony Watson....
The executive power and the ruling party in South Korea have urged the cryptocurrency industry for what officials describe as voluntary regulatory measures, a Korean media report revealed. The call was issued during a consultative meeting devoted to crypto assets. Government Asks South Korean Crypto Sector for Regulatory Proposals Representatives of the South Korean government and the ruling People Power Party met on Monday to discuss issues related to the crypto space. The consultations were held in the aftermath of last month’s collapse of the terrausd (UST) algorithmic stablecoin....
South Korea’s crypto-sphere has been witnessing a volatile environment in terms of regulatory moves, as bitcoin prices and other altcoins are also having wild moves. Such a scenario hasn’t stopped the country’s middle class to profit from the crypto market, even with very successful stories. One of the Interviewees Risked His Life Savings in Cryptos According to a report published by TV network JTBC, employees from major companies such as Shinhan Card, Samsung, and LG Electronics claimed they collected enough profits to quit their jobs. Testimonies featured in the video....