The post Korean Lawmaker Declares $1M in XRP as Government Crypto Holdings Rise appeared on BitcoinEthereumNews.com.

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. The Government Public Ethics Committee has released its annual report on public officials’ asset disclosures for 2025, revealing a notable rise in cryptocurrency holdings among high-ranking officials. According to the report, 411 out of 2,047 public officials were required to disclose their assets, and they reported holding virtual assets with a combined total value of 14.41 billion won. This translates to an average holding of 35.07 million won per individual. Seoul City Council Member Kim Hye-young emerged as the official with the largest cryptocurrency holdings, reporting a total of 1.76 billion won in digital assets. Council Member Kim personally owns 16 different cryptocurrencies, including 0.0014 Bitcoin (BTC), 0.0123 Ethereum (ETH), and 472 Dogecoin (DOGE). However, the majority of the disclosed holdings come from family members, with 519,004 XRP valued at approximately $1.2 million held by his spouse and 3,336 XRP owned by his eldest son. Following closely behind, Seoul City Council Member Choi Min-gyu was the second-highest public official in terms of crypto holdings, declaring 1.62 billion won in virtual assets. His portfolio includes 409,551 XRP, 9,402 Artidiums, and 4,701 Ads, all registered under his name. XRP Investor Preference XRP has firmly established itself as the top choice among South Korean investors. Its strong presence is especially noticeable on South Korean exchanges, with Upbit,  the country’s largest exchange, holding around 4-5% of the total XRP supply, making it the largest exchange holder of XRP globally. Additionally, Upbit now accounts for 15% of the total XRP trading volume, recently surpassing Binance’s…

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Filed under: News - @ March 28, 2025 5:28 am