Other South Korean judges and their families also disclosed crypto holdings, alongside ownership of domestic and international stocks.
Several senior South Korean judges own Bitcoin, Ethereum, and alternative cryptocurrencies, according to data released to the public on March 28.
NoCut News reports that as of December 31, 2023, the holdings of South Korean judges comprised Solana coins, BTC, ETH, and XRP.
The South Korean media coined the term Coin Gate to refer to an ongoing scandal that broke out last year. The matter at hand initially revolved around a lawmaker who, according to reports, engaged in the sale of coins after obtaining confidential knowledge regarding impending regulatory modifications.
Further legislators have been implicated in the scandal since its inception. Additionally, senior civil servants and prominent judiciary members have been included.
Disclosure of South Korean Judges’ Crypto Assets
As a consequence, the Supreme Court rendered a decision mandating senior justices to publicly disclose their coin and other asset holdings on an annual basis to prevent potential conflicts of interest.
Declarations by judges must also include the assets of spouses. Additionally, pocketbook information held in their children’s names must be provided.
Chief Justice Lim Byeong-ryeol of the Cheongju District Court disclosed the most substantial Bitcoin holdings. Lim and his family disclosed possessing 9.92 BTC, of which 3.38 BTC were in accounts registered in his name.
The eldest son and spouse of Lim hold the remaining 6.54 BTC in accounts bearing their names.
In private wallets, Lim’s spouse and son reportedly held lesser quantities of alternative cryptocurrencies, including XRP, Solana, and Ethereum.
According to available documents, dependents of Seoul High Court Chief Justice Hwang Byeong-ha also disclosed possessing BTC 2.07.
The chief judge of the Seoul High Court, Kim Bok-hyung, disclosed cryptocurrency holdings estimated to be worth $2,200.
In the interim, Deputy Director of the National Court Administration Bae Hyeong-won and Chief Justice Ahn Byeong-wook of the Seoul Bankruptcy Court disclosed that purses registered in their children’s names “also contained cryptocurrency holdings.”
Joongang Ilbo reported that the offspring of Supreme Court Justices Roh Tae-ak, Kwon Young-jun, and Shin Sook-hee have also disclosed ownership of cryptoassets.
In addition, the South Korean judges were required to disclose their total assets, and data indicates that several of them held domestic and international unlisted stocks.
Presumably, senior South Korean judges were enthusiastic about blue-chip American equities. Several individuals disclosed ownership of shares in Amazon, Apple, Tesla, and Nvidia, among others.
A South Korean law firm operator was incarcerated earlier this month for hijacking client funds to invest in private cryptocurrencies.