The Government Public Ethics Committee in South Korea has revealed that 411 out of 2,047 public officials are holding virtual assets worth a total of 14.41 billion won.
Seoul City Council Member Kim Hye-young is the largest holder, with assets totaling 1.7 billion won, including 519,004 XRP worth $1.2 million.
XRP has firmly established itself as the top choice among South Korean investors, with Upbit, the country’s largest exchange, holding around 4-5% of the total XRP supply.
South Korea is intensifying its regulatory efforts to protect investors, with the Financial Intelligence Unit (FIU) restricting access to 17 overseas cryptocurrency exchange apps.