Digital Asset Exchange Representatives Excluded from National Assembly Audit Witness List

The list of witnesses and reference persons for the National Assembly's Political Affairs Committee audit did not include representatives from digital asset exchanges. Despite major issues such as large-scale hacking and erroneous payments, they were not included in the witness list. On the 1st, the Political Affairs Committee held a plenary meeting and adopted 18 general witnesses and 2 reference persons, with members of the People Power Party protesting the witness selection and leaving the meeting. Representatives from the digital asset industry were not included in the list, and while the summoning of witnesses was considered, it was ultimately not adopted. Last November, there was a hacking incident involving Upbit amounting to 44.5 billion KRW, and in February, there was an erroneous payment of 620,000 BTC by Bithumb, but no witnesses were summoned. Since the Terra-Luna incident in 2022, industry representatives have not appeared as witnesses in the audit for four years. In 2023, Lee Jeong-hoon, CEO of Bithumb Asset, received a request to be summoned as a witness but did not attend, leading to a summons order being issued. Last year, Oh Kyung-seok, CEO of Dunamu, was excluded from the final discussions. In the fintech sector, Seo Hae-young, CEO of Lucent Block, was adopted as a reference person for the Financial Services Commission audit on the 8th. The major topic related to witnesses on that day was the leveraged exchange-traded fund (ETF). Members of the People Power Party stated at a press conference that none of the 39 individuals related to the requested single stock leveraged ETF were adopted. The national audit is scheduled to take place from the 6th to the 22nd.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.