South Korea has been a number one marketplace for bitcoin over the past yr or so in phrases of adoption, buying and selling volumes, and regulatory response. Now one of many prime figures in the federal government related to regulating cryptocurrency has handed away, with stress suspected to be a contributing trigger.
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South Korean Cryptocurrency Regulator
Jung Ki-joon, Head of the Economic Policy Coordination Office for the South Korean Government, has been discovered lifeless in his condominium in Seoul on Sunday morning. According to native reviews he most certainly handed away on Saturday night time earlier than his physique was discovered by his household in the morning.
The official’s demise is taken into account to be a stunning growth in Korea as the person was solely 52 years previous and wasn’t identified to be affected by any life-threatening diseases. Korean police forces have reportedly begun an investigation into the matter however the actual explanation for his demise can’t be confirmed till the police get a report from the coroner’s workplace.
Too Much Stress to Blame?
South Korea turned obsessive about all issues crypto in 2017 and the native authorities noticed it as its duty to guard residents from the riskier points of the quickly evolving ecosystem, from nameless buying and selling on exchanges to taking part in ICOs and extra. For an extended whereas the nation and its regulatory efforts dominated headlines in each cryptocurrency boards and mainstream monetary media because it was extensively alleged to be one of many main elements in driving the value of bitcoin.
Back in late November of final yr, the South Korean authorities selected a daily assembly schedule of vice ministers, led by Hong Nam-ki, the minister of the Office for Government Policy Coordination, to debate how one can additional regulate cryptocurrency transactions. Jung Ki-joon was in cost of coordinating the opinions of the completely different ministries and places of work concerned to arrange for the weekly conferences of Hong and related vice ministers. The late official is presumed to have suffered a coronary heart assault in his sleep in line with native media, and his colleagues are quoted as saying he had been underneath “heavy stress” since taking cost of those efforts.
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