South Korea’s NPS has no rules limiting staff crypto trades: report

South Korea’s National Pension Service allows employees at its fund management division to trade cryptocurrencies freely, with no rules restricting personal holdings or transactions and no related inspections conducted, Money Today reported. Citing data lawmaker Heo Jong-sik of the ruling Democratic Party received from the National Pension Service, the report said the agency has no regulations restricting personal holdings or trading of “virtual currencies, including Bitcoin” by fund management staff. The agency also has not carried out any inspections on the matter. Employees at the National Pension Service’s fund management division are barred from trading individual domestic and overseas stocks, derivatives and stock-related bonds under their own names, as there is a risk they could use nonpublic information or job-related advantages to seek unfair gains, according to the report.