The South Korean government has banned its own officials from holding and trading cryptocurrency, which is considered to be the first time the government has formulated a virtual currency (19459003)

According to Maeil Business, the Ministry of Personnel Management issued a document entitled "Virtual currency holdings and transaction-related information for civil servants" stating that officials who are found to be involved in cryptocurrency trading are "in violation of the prohibition of forbearance obligations under the civil servants' law" and are subject to disciplinary actions, especially if the banned activities occur during work hours.

The statement stressed that the will be applied to all government ministries. Even if there is no job relevance [public officials] could be subject to discipline.

The government stance to cryptocurrencies in South Korea, reportedly the world's largest market for cryptocurrencies after the US and Japan as of February 2018, has at times been unclear. In December 2017, cryptocurrencies in the country. (19459003)

According to Maeil Business, the Financial Services Commission (FSC), the Fair Trade Commission, and the head of the Office for Hong Kong-ki, 1945, 1945.

In January 2018, South Korean officials from the Financial Supervisory Service (FSS) were accused of insider cryptocurrency trading. FSS chief Choi Hyung-sik later confirmed the charges.