The South Korean authorities de facto forbade all government officials to own and trade in cryptocurrencies, regardless of position and direction. Violators face disciplinary action. It is reported citing local sources.

“Working in HR Department asked officials to refrain from owning and trading cryptocurrency even if digital assets have nothing to do with their occupation. For the first time the government has imposed a complete ban for all civil servants”, — quotes the edition of the printed newspaper Maeil Business.

The pretext was a potential violation of the law prohibiting the refusal to carry out their duties as public servants, given that officials can engage in trading during the working hours.

However, senior officials stressed that each Ministry is free to determine the severity of the disciplinary sanction.

Earlier, South Korean defense Ministry started to block sites cryptocurrency exchanges on the territory of military units, equating them to online casinos and porn sites.