Possibility of Lobbying for P2E Legalization Raised
"Game Industry Faces Collapse," Lamented
Suspicions Must Be Thoroughly Uncovered Through Investigation
The People Power Party launched a full-scale offensive regarding the allegations of cryptocurrency holdings by Kim Nam-guk, a member of the Democratic Party of Korea.
On the 12th, Yoon Jae-ok, floor leader of the People Power Party, stated at a floor strategy meeting held at the National Assembly, "The issue with Representative Kim has expanded beyond personal morality to illegal lobbying targeting the Democratic Party," adding, "The allegations against Representative Kim were shocking from the start, but they are growing more serious by the day."
Yoon mentioned the possibility of lobbying for the legalization of P2E (Pay to Earn), saying, "This is something ordinary citizens could never imagine, and the youth generation's anger and frustration over the unfairness and shamelessness are beyond words," and added, "While institutional problems are also pointed out, Representative Kim lies every time he tries to explain. The truth must be uncovered through investigation."
It is reported that Representative Kim purchased a large amount of 'Wemix,' a lesser-known P2E minor coin, in early last year, and Lee Jae-myung, then the Democratic Party's presidential candidate, also responded positively, which acted as a boon to the P2E-related cryptocurrency industry.
Yoon Jae-ok, floor leader of the People Power Party, is speaking at the floor countermeasure meeting held at the National Assembly on the 12th. Photo by Kim Hyun-min kimhyun81@
He continued, "Only after all suspicions are clarified and problems confirmed can effective institutional improvements be made," and stated, "The ruling and opposition parties are pushing for a bill revision to include virtual assets in the (public officials') asset disclosures by mutual agreement." He emphasized, "This is a separate measure that does not affect the necessity and process of truth verification," and urged, "The Democratic Party should not obsess over evasive institutional reforms or sham investigations for exoneration but should disclose all information related to the allegations and actively cooperate with the prosecution's investigation."
Lee Yang-su, senior deputy floor leader, also said at the meeting, "During the presidential election, Representative Kim, who traded coins worth tens of billions, launched the Lee Jae-myung fund project utilizing NFT technology," and added, "There are allegations that Representative Kim planned the presidential fund to raise the value of his coins, which soared significantly."
There were also calls for a full investigation into cryptocurrency holdings by lawmakers. Ryu Seong-geol, ranking member of the National Assembly's Strategy and Finance Committee, said, "In the past, the National Assembly conducted a full investigation with the consent of all members regarding real estate speculation allegations," and demanded publicly, "Today, I call for a full investigation of coin holdings for all members of the National Assembly."
Lee Yong-ho, ranking member of the Culture, Sports and Tourism Committee, said, "Game-related bills fall under the jurisdiction of the Culture Committee," and lamented, "The gaming industry is suffering a fatal blow due to Representative Kim's coin allegations; it is on the verge of collapse." He criticized, "In South Korea, game development incorporating technologies such as P2E, metaverse, blockchain, and augmented reality is urgent, but the gaming industry has fallen into the quagmire of Kim Nam-guk," and urged, "The Democratic Party must promptly refer the coin allegations against Representative Kim to the prosecution. A self-investigation will only waste time and fail to properly clarify the facts." Lee also proposed a full investigation into the coin holding and transaction records of all members of the National Assembly.
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