South Korea to disclose top officials’ crypto holdings by 2024 as new crypto exchange launches
South Korea changes transparency: 5,800 officials disclose assets, incl. crypto, via PETI. Pulix breaks the rules of crypto exchange: PLX token presale, hybrid approach and special incentives. Governmental transparency and crypto innovation will intersect, shaping the future of finance.
In a dramatic move, South Korea's Ministry of Personnel Management announced plans to launch an integrated asset declaration service for public officials, ensuring unprecedented transparency starting next year.
At the same time, the crypto space is witnessing Pulix's validation campaign with the ongoing PLX token pre-sale, challenging conventional business norms.
South Korea's push for transparency
South Korea is set to revolutionize transparency in public services with its next unified asset declaration service. In a press release, the Ministry of Personnel Management, under director Kim Seung-ho, revealed that about 5,800 government officials will disclose details of their assets, including virtual assets, through the ‘Public Disclosure Ethics System (PETI)'. The move follows an amendment to the Public Official Conduct Act by making crypto assets part of the annual asset disclosure requirements for elected and senior officials.
This initiative solves the problems faced by the public in obtaining the declarations of personal assets scattered in various official gazettes. The improved system allows for a consolidated view of property description details, increasing accessibility and enabling searches using names or company names. In addition, the system promotes operational efficiency by empowering employees to manage the entire information process seamlessly.
In particular, the inclusion of virtual assets in asset registration solves the challenges faced by the expanding market size of cryptocurrencies. Added through an amendment to the law, virtual assets are now required to report transaction details that must be disclosed. The Ministry of Personnel Management has completed the reorganization of the Public Service Ethics System and the introduction of activities related to the registration of virtual property.
Come June next year, major domestic virtual value exchanges such as Upbit, Bithumb, Coinone, Korbit, and Gopax plan to offer virtual asset holdings through separate information delivery systems. This move is expected to eliminate blind spots in property registration and further enhance transparency for the public.
In order to avoid confusion in the field, the ministry plans to publish '24-year regular property change reporting guidelines' and conduct ‘on-site property registration district training' in 17 cities and districts.
Pullix's hybrid crypto exchange concept
As South Korea takes strides in governmental transparency, the crypto space will witness the arrival of Pulix with its unique hybrid exchange concept and ongoing PLX token pre-sale. Pullix aims to bridge the gap between decentralized and centralized exchanges, providing users with a holistic trading experience.
The PLX token, the centerpiece of the Pulix ecosystem, introduces a novel “trade-to-earn” concept that allows users to earn instant rewards for trading on the platform. In particular, PLX token holders will benefit from a revenue sharing mechanism, allowing them to profit from the currency's daily earnings.
Pulix's approach to liquidity provision stands out by encouraging consumers to provide liquidity, fostering a more competitive trading environment. In the year Set to launch in January 2024, the platform features features such as deep liquidity, up to 1000:1 leverage and a governance model that encourages token holdings.
The Hybrid DeFi platform addresses a key concern in the crypto community, ensuring user security by keeping their assets secure. Pullix's commitment to privacy, zero commission, and diverse trading assets make it a strong contender in the evolving crypto exchange landscape.
Summary
Pulix has emerged as a promising player in the cryptocurrency trading and investment space as South Korea makes significant strides in enhancing governmental transparency. The integration of virtual assets in public authorities' statements and the introduction of Pulix's innovative features represent significant developments in their respective areas.
These initiatives highlight the continued evolution of transparency, technology and financial ecosystems, shaping a dynamic future for both government functions and cryptocurrency exchanges.
