Sunday, December 10, 2023

Korean officials have quit their jobs to work in the cryptocurrency industry, according to a lawmaker

Cryptocurrency and blockchain have opened career opportunities for those adept in these fields, and most of them are very well-paying. The income imbalance is leading to many people quitting their current jobs to work in the crypto industry. A similar phenomenon is being seen in South Korea, where numerous government officials are quitting their jobs to join the crypto industry. However, politicians in the country are raising an ethical question about this move. Since cryptocurrency is still a controversial subject in South Korean political circles, many are doubting the integrity of government officials working in regulatory fields. Roh Woong-Rae, a member of the South Korean parliament, raised the issue in the parliament. He urged for stricter post-employment and resignation policies for government officials.

Woong-Rae also raised some deeper issues about the screening of employees before recruiting. He said that screening should be more detailed since it would filter out candidates who have a tendency to quit for higher-paying private enterprise jobs. Apart from government officials,many personnel from the law enforcement department are also joining cryptocurrency firms. It provides a unique problem for national security since many of these officials had access to classified information.

Despite concern from authorities, experts feel that imposing regulations would be a breach of the Crypto firms can use these officials as shields to prevent falling into regulatory trouble. right to freedom of choice. Many young South Koreans will also be reluctant to join government offices, leading to an overall loss for the government.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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