South Korean Lawmakers to Review Bill Mandating Crypto Holdings Disclosure by Influencers

BitcoinWorld South Korean Lawmakers to Review Bill Mandating Crypto Holdings Disclosure by Influencers South Korea’s National Assembly is set to deliberate a bill that would require financial influencers, often called “finfluencers,” to publicly disclose their virtual asset holdings.

The proposed amendment to the Virtual Asset User Protection Act, introduced by Democratic Party lawmaker Kim Seung-won, has been placed on the agenda for the National Policy Committee’s full meeting scheduled for Aug. 26 at 1:00 a.m. UTC, according to a report from Digital Asset.

What the Bill Proposes The amendment aims to address potential conflicts of interest among influencers who promote or discuss cryptocurrencies on social media and other platforms.

If passed, these individuals would be required to declare their digital asset positions, enabling followers and investors to assess whether recommendations are influenced by personal holdings.