Former South Korean lawmaker Kim Nam-kook has been indicted without detention over a controversy involving the possession of a large amount of cryptocurrency

ChainCatcher news: Former South Korean Democratic Party member Kim Nam-guk, who has sparked controversy due to his substantial cryptocurrency holdings, has been prosecuted without detention. The Southern District Prosecutor's Office in Seoul has filed a non-custodial prosecution against him on the grounds of obstructing the execution of public duties.

Kim Nam-guk is accused of concealing significant profits obtained through virtual asset investments during the property declaration for National Assembly members in 2021 and 2022, and of obstructing the review of property changes of congressional public officials by manipulating bank account deposits and virtual assets.