<p>The Anti-Corruption and Civil Rights Commission of Korea (ACRC) has <a href="https://www.acrc.go.kr/synap/skin_v2022_21.10.1/doc.html?fn&#61;16944828845231.hwpx&amp;fno&#61;%28230912%29&#43;%EA%B5%AD%ED%9A%8C%EC%9D%98%EC%9B%90&#43;%EA%B0%80%EC%83%81%EC%9E%90%EC%82%B0&#43;%EC%A0%84%EC%88%98%EC%A1%B0%EC%82%AC&#43;%EC%B0%A9%EC%88%98%28%EC%B5%9C%EC%A2%85%29.hwpx&amp;rs&#61;%2Fsynapfile%2F4A%2F202309%2F" rel="noopener noreferrer nofollow">announced</a> that it has convened a special investigative team to conduct an investigation into the virtual asset dealings of members of the 21st National Assembly, particularly details on acquisition, trading, and losses.</p><h2 id="header-0">Coming under scrutiny</h2><p>The National Assembly passed a <a href="https://www.assembly.go.kr/portal/cmmn/file/fileDown.do?menuNo&#61;600101&amp;atchFileId&#61;bcf58181b2ee4df0b0e43c21ecb2f460&amp;fileSn&#61;4" rel="noopener noreferrer nofollow">resolution</a> back in May titled “The Resolution on Voluntary Reporting and Investigation of Virtual Assets of National Assembly Members,” requesting that all members of the Assembly should voluntarily report the status and changes in their holdings of virtual assets for a thorough investigation by the ACRC amid public concern about conflicts of interest and illegal transactions.</p><p>As a result, individual consent forms for the collection, use, and third-party provision of personal information were submitted to the ACRC last Monday by Assembly members of the ruling and opposition parties.</p><p>Other minor political parties like the Justice Party, Basic Income Party, and Transition Korea Party that had previously submitted their personal information consent forms have resubmitted their forms in accordance with the format of those submitted by the ruling and opposition parties. Independent lawmakers and some non-negotiation bodies have also voluntarily submitted forms of their own.</p><h2 id="header-1">Extensive legal probe</h2><p>The scope of the investigation includes the domestic acquisition, trading, and losses of virtual assets by Assembly members starting from the beginning of their term on May 30, 2020, to May 31, 2023, when their personal information consent forms were submitted. The ACRC will compare this information with reports formerly filed by the members themselves.</p><p>The ACRC appointed Vice Chairman and Secretary General Jung Seung-yoon as the head of the team and assigned some 30 investigators to carry out a census for 90 days starting on September 18. It will be executed under the Act On The Prevention Of Corruption And The Establishment And Management Of The Anti-Corruption and Civil Rights Commission and the Personal Information Protection Act.</p><p>“As this is an important matter of public interest, we will conduct the investigation promptly and fairly in accordance with the law and guidelines,” said Jung. “We will also strictly protect the data acquired during the investigation process, including the personal information consent forms.”</p>

Korean National Assembly Members’ Crypto Holdings to Undergo Investigation

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