South Korean officials accused of cryptocurrency insider trading
( January 19, 2018, 07:34 GMT | Insight) -- South Korean opposition Liberty Korea Party legislator Kim Seong-tae has urged action to address the issue of officials in the administration of President Moon Jae-in having engaged in insider trading in cryptocurrency transactions, KBS News reports.South Korean opposition Liberty Korea Party legislator Kim Seong-tae has urged action to address the issue of officials in the administration of President Moon Jae-in having engaged in insider trading in cryptocurrency transactions, KBS News reports. The lawmaker's comments come after it was discovered that some officials from the Financial Supervisory Service had pocketed unfair gains by selling cryptocurrency just before an announcement by the regulator on whether to ban cryptocurrency trading or place restrictions on it. The chairman of the FSS, Choi Hyung-sik, admitted that the officials had sold cryptocurrency. Barun Party lawmaker Ha Tae-Kyung also held a press conference today saying that price of cryptocurrencies had changed significantly on Jan. 15 between 9am, when the government internally announced a plan to regulate cryptocurrencies, and 9:40am, when the embargo on that announcement was lifted, and urged punishment for the officials in charge....
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