Cryptocurrency Regulator In South Korea Found Dead At Home

News | February 21, 2018 By:

A South Korean regulator who played a key role in coordinating the cryptocurrency crackdown in the country has been found dead.

According to local reports, Jung Ki-joon, 52 years old, head of economic policy coordination at the Office for Government Policy Coordination, was found dead at his home in Seoul on Sunday. Local police said that Jung was initially thought to have suffered a heart attack while sleeping, but officials are now uncertain.

“He died from some unknown cause,” said a government spokesman. He passed away while he was sleeping and [his] heart [had] already stopped beating when he was found dead.”

Jung was in charge of coordinating the opinions of different ministries and offices within the government on cryptocurrency regulations. They began in November and are led by Hong Nam-ki, minister of the Office for Government Policy Coordination. His colleagues raised the possibility that stress — following increased pressure from crypto-related duties — led to Jung’s death.

The South Korean government enacted a ban in late January on anonymous crypto trading accounts. However, it had changed its mind about banning cryptocurrencies, and was instead considering a new framework for licensing such services.

On Tuesday, Choe Heung-sik, governor of South Korea’s Financial Supervisory Service, said in a meeting with representatives of cryptocurrency exchanges that the government will support crypto trading if “normal transactions” are made.”