South Korea’s Bithumb Exchange Incident Spurs Regulatory Overhaul: Crypto Now Counts for Pension Eligibility
South Korea's Board of Audit and Inspection (BAI) has formally requested the Ministry of Health and Welfare to amend pension eligibility laws, urging the inclusion of virtual assets in property calculations for basic pension reviews. The move aims to prevent wealthy crypto holders from qualifying for low-income subsidies.
Meanwhile, the Bank of Korea (BoK) is advancing stringent safety measures for crypto exchanges, including circuit breakers, following February's Bithumb incident. The BAI emphasized that digital assets possess clear economic value and should be treated no differently than traditional financial assets under pension assessments.
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