The People Power Party (PPP), South Korea's ruling political party, has verified the crypto assets of its candidates.

According to News1, the PPP's nomination committee has decided to verify the virtual asset (cryptocurrency) holdings of candidates for the April 10 general election, as well as their past holdings and transactions. "The purpose is to check the status of virtual asset holdings and transactions before entering the National Assembly," a senior official of the committee explained on the 17th. The move is seen as a response to the controversy that arose last year when Kim Nam-kook, a lawmaker who defected from the Democratic Party, held a large amount of virtual assets and traded them during a National Assembly standing committee.