South Korea plans mandatory asset disclosure for crypto and financial influencers

South Korea’s ruling party is pushing a bill that would require people who give financial or cryptocurrency advice on social platforms and mass media to publicly disclose their asset holdings and any paid promotions, according to reports ^[1][2].

Local reporting says the draft—linked to Democratic Party lawmaker Kim Seon-won—would amend the Capital Markets Act and the Virtual Asset User Protection Act and apply to individuals who repeatedly recommend stocks or crypto on livestreams, short videos, blogs or broadcasts, obliging them to reveal both holdings and payments for promotions ^[5][2][1].

The proposal arrives amid coverage that some retail capital in South Korea has been shifting toward equities as the KOSPI reached new highs, a development that commentators say has affected crypto flows ^[3][4].

The measure is currently a draft/proposal under consideration and has not been enacted into law ^[2][5].