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South Korean prosecutors seek 6 months for lawmaker who allegedly hid crypto

Kim Nam-kuk, a member of South Korea’s National Assembly, could be sentenced to six months in prison for allegedly not reporting all his cryptocurrency holdings to the government.

According to a Dec. 18 report from South Korean news outlet Dong-A Ilbo, prosecutors in Kim’s case requested a six-month prison sentence for the lawmaker, who is currently on trial in Seoul.

Kim allegedly reported his total assets at 1.2 billion won — roughly $834,356 at the time of publication — in 2021, despite owning 9.9 billion in digital assets, and also concealed 990 million won worth of crypto holdings in 2022.

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South Korean prosecutors seek 6 months for lawmaker who allegedly hid crypto

Kim Nam-kuk, a member of South Korea’s National Assembly, could be sentenced to six months in prison for allegedly not reporting all his cryptocurrency holdings to the government.

According to a Dec. 18 report from South Korean news outlet Dong-A Ilbo, prosecutors in Kim’s case requested a six-month prison sentence for the lawmaker, who is currently on trial in Seoul.

Kim allegedly reported his total assets at 1.2 billion won — roughly $834,356 at the time of publication — in 2021, despite owning 9.9 billion in digital assets, and also concealed 990 million won worth of crypto holdings in 2022.

Read More:https://cointelegraph.com/news/south-korean-prosecutors-sentence-lawmaker-cashed-crypto