South Korea has passed a bill that requires public officials to disclose their cryptocurrency holdings, in an effort to prevent illicit activities such as money laundering and conflicts of interest. The amendments to the National Assembly Act and the Public Service Ethics Act were prompted by a scandal involving lawmakers engaging in large cryptocurrency transactions.

The legislation was initially scheduled to take effect in December 2023, but some lawmakers are advocating for earlier implementation in July. The unanimous approval of the bill by the National Assembly demonstrates the government's commitment to regulating cryptocurrency assets and promoting transparency and accountability among public officials.