SK lawmaker’s bill to mandate influencers disclose crypto holdings raises privacy concerns

A South Korean National Assembly review found a bill that would require finfluencers to disclose their virtual asset holdings could restrict privacy and individuals’ right to control their personal information, Digital Asset reported. Kwak Hyun-jun, a senior specialist on the National Assembly’s Political Affairs Committee, made the assessment in a review report dated today on proposed amendments to the Virtual Asset User Protection Act. The bill, introduced by Democratic Party lawmaker Kim Seung-won, would create a new disclosure requirement for digital asset holdings by finfluencers. Kwak also said the scope of finfluencers subject to the disclosure requirement needs further review.