Police Clear Kim Nam-guk of 'Virtual Asset Property Reduction' Allegations

Police investigating allegations against Democratic Party lawmaker Kim Nam-guk regarding suspected property reduction through virtual assets have determined there are no grounds for prosecution, according to Yonhap News Agency. The police confirmed that Kim had reinvested the 470 million won from cryptocurrency sales into other digital assets, and subsequent price declines led to a significant drop in his overall assets. Police also reviewed the Seoul Southern District Prosecutors' Office's investigation results from 2023 regarding the 'Kim Nam-guk coin controversy,' which first came to light when he was found to hold large amounts of cryptocurrency, before deciding not to prosecute.