South Korean panel to review bill requiring influencers to disclose crypto holdings

South Korea’s National Assembly National Policy Committee will review a bill requiring influencers to disclose their virtual asset holdings at a full committee meeting, Digital Asset reported. The South Korean National Assembly’s Political Affairs Committee plans to place the amendment to the Virtual Asset User Protection Act, introduced by Democratic Party lawmaker Kim Seung-won, on the agenda at a 1:00 a.m. UTC meeting on Aug. 26. The bill is intended to let users determine whether finfluencers have conflicts of interest. The agenda also includes a revision to the Act on Reporting and Using Specified Financial Transaction Information aimed at preventing incidents like Bithumb’s mistaken BTC over-crediting case and another amendment that would abolish the one-exchange, one-bank rule.