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South Korean Judges’ Crypto Holdings Revealed
Several senior South Korean judges have disclosed their cryptocurrency holdings, including Bitcoin, Ethereum, and altcoins, according to new public disclosure data.
Overview of the Crypto Holdings
- The judges’ holdings as of December 31, 2023, included BTC, ETH, XRP, and Solana coins.
- Trading volumes on South Korea’s leading Upbit crypto exchange have been active in the past two weeks.
Background of the Coin Gate Scandal
A scandal known as Coin Gate emerged last year in South Korea, involving a lawmaker who allegedly sold coins based on insider information about upcoming regulatory changes. The scandal has since expanded to include other lawmakers, senior civil servants, and judiciary members.
Public Declarations and Holdings
The Supreme Court ruled that senior judges must make annual public declarations of their cryptocurrency and other asset holdings to prevent conflicts of interest. These declarations also include spouses’ holdings and wallets held in their children’s names.
Details of Some Judges’ Holdings
- Cheongju District Court Chief Justice Lim Byeong-ryeol reported significant Bitcoin holdings, with BTC 9.92 held by his family.
- Seoul High Court Chief Justice Hwang Byeong-ha’s dependents reported holding BTC 2.07.
- Seoul High Court Chief Judge Kim Bok-hyung revealed crypto holdings worth around $2,200.
Other Asset Holdings
Besides cryptocurrencies, judges also hold unlisted domestic stocks, overseas stocks, and blue-chip US stocks like Amazon, Apple, Tesla, and Nvidia.
Recent Developments
Earlier this month, a South Korean law firm operator was sentenced to jail for misappropriating clients’ funds for personal crypto investments.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
