Kim Nam-guk, a former South Korean lawmaker, faces a six-month prison sentence for allegedly concealing 9.9 billion won (approximately $6.8 million) in cryptocurrency holdings during his asset declarations in 2021 and 2022. Prosecutors claim he omitted significant crypto profits and transferred assets to bank accounts to disguise his digital holdings. His case highlights ongoing debates over South Korea's crypto regulations and the upcoming implementation of a crypto tax set for January 2025.
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