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Cryptocurrency Regulator Found Dead at His Home in South Korea

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Jung Ki Joon, 52, was the head of economic policy coordination at the office for government policy coordination. He was found dead at his home on Sunday, a South Korean news agency reported. He suffered a heart attack while sleeping. Police presumed this stress may be the cause according his colleagues increased pressure from Cryptocurrency duties.

A government spokesman later said in a The Wall Street Journal report that Jung “died from some unknown cause”. His death is considered to be a shocking development in Korea. He was not suffering from any life threatening sickness. Police has not reached to any decision until he get the report from the Coroner’s office.

In January Jung Ki Joon said during a briefing that Bitcoin and other Cryptocurrencies were not considered legal currency, vowing that government would “strongly respond to excessive Cryptocurrency speculation and illegal activity.”

Jung Ki Joon was in charge of coordinating the opinion of the different ministers and offices involved to prepare for the weekly meeting of Hong and relevant ministers. Mr Joon is presumed to have a heart attack during his sleep. Meanwhile, the spokesman quoted: “He died from some unknown cause. He passed away while he was sleeping and his heart had already stopped beating when he was found dead.”

South Korea and Crypto

South Korea has been a leading market for Bitcoin over the last year. It is ahead in terms of adoption, trading volumes and regulator response. Now one of the top figures in the government associated with regulating Cryptocurrency has passed away with stress suspected to be a contributing cause. To regulate Cryptocurrency transactions the South Korean government decided on a regular meeting schedule of vice ministers, led by Hong Nam-Ki the ministers of the office for government policy coordination, to discuss how to further regulate Cryptocurrency. In late November the ministers discuss about the future of Cryptocurrency.

 

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