Prosecutor Affiliated with Ministry of Justice Fails to Transfer to Cryptocurrency Exchange

The Ministry of Justice proceeds with the resignation acceptance procedure as is

On the 22nd, citizens are looking at the cryptocurrency price board installed at Bithumb, a cryptocurrency exchange in Dadong, Jung-gu, Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Yoo Byung-don] A prosecutor affiliated with the Ministry of Justice who resigned to move to a cryptocurrency exchange has decided not to apply for the related employment approval review amid growing controversy.

According to the Ministry of Justice on the 28th, Prosecutor A, who had been working in the Policy Advisor's Office of the Minister of Justice since January, recently submitted a resignation. It is known that Prosecutor A intended to move to a major domestic cryptocurrency exchange as a lawyer.

Given that the government has been warning about overheating in the cryptocurrency market and mentioning regulations, Prosecutor A's move sparked controversy inside and outside the legal community. There were also concerns about a potential conflict of interest in a prosecutor from the Ministry of Justice moving to a cryptocurrency exchange.

As the controversy escalated, Prosecutor A reportedly decided not to proceed with the originally planned application for employment approval at the cryptocurrency exchange. The Ministry of Justice is continuing the process of accepting Prosecutor A's resignation independently of this matter.

On the 19th, the government decided at a vice-ministerial meeting of related ministries to conduct special crackdowns on money laundering, fraud, and illegal activities using cryptocurrencies. In January 2018, when Bitcoin prices were soaring, then-Minister of Justice Park Sang-ki stated, "We are preparing legislation to ban cryptocurrency transactions through exchanges."

This content was produced with the assistance of AI translation services.