South Korean Congressman Quan Xingdong (권성동) announced that he is drafting the "Act on the Prevention of Concealment of Virtual Assets by Public Servants" to force public officials and candidates to disclose the details of holding virtual assets worth 5 million won (about 3,774 U.S. dollars) or more, And force them to report virtual asset transactions.

It is reported that the country's current "Public Service Ethics Law" and "Public Official Election Law" stipulate that public officials and candidates are obliged to disclose registered property and explain the process of property acquisition, but virtual assets are not subject to property registration and disclosure.