Report Alleges Lawmaker Pressured Crypto Exchange Over Son’s Employment

A new report has triggered scrutiny of a South Korean opposition leader’s ties to the cryptocurrency industry. The focus is on whether Kim Byung-kee improperly used his influence regarding competing exchanges.

It is alleged that Kim sought to secure a position for his son at Bithumb while simultaneously raising concerns about its competitor, Upbit. This occurred from his seat on the National Assembly’s Political Affairs Committee.

Specifically, the lawmaker reportedly directed his team to “attack Dunamu” on monopoly grounds after a $10 billion acquisition deal involving Naver was announced. Regulatory bodies would still need to approve the merger.

Kim’s committee role, which involves oversight of financial institutions, lies at the heart of the controversy. He has denied any wrongdoing, insisting his son’s employment was a separate matter.