For years now, South Korea has been seen as a leading market
for bitcoin and Alts in terms of adoption, trading volumes, and regulatory
response. Despite their huge contribution to the crypto world, it is sad to say
that one of the top figures in the government associated with regulating
cryptocurrency in the country has passed on, however, most people suspects stress
to be a major contributing cause.
Jung Ki-joon was the Head of the Economic Policy Coordination
Office for the South Korean Government, and was found dead in his apartment in
Seoul on Sunday morning. According to local reports, he most likely passed away
on Saturday night before his body was found by his family in the morning.
The death of Jung Ki-joon is considered to be a shocking
development in Korea as he was only 52 years old and wasn’t known to be
suffering from any life-threatening illnesses. Korean police forces have
reportedly begun an investigation into the matter but the exact cause of his death
cannot be confirmed until the police get a report from the coroner’s office.
Too Much Stress to Blame?
Jung Ki-joon became obsessed with bitcoin and alts in 2017
and the local government saw it as its responsibility to protect citizens from
the riskier aspects of the rapidly evolving ecosystem, from anonymous trading
on exchanges to participating in ICOs and more. For a long while the country
and its regulatory efforts dominated headlines in both cryptocurrency forums
and mainstream financial media as it was widely speculated to be one of the
leading factors in driving the price of bitcoin.
Back in late November of last year, the South Korean
government decided on a regular meeting schedule of vice ministers, led by Hong
Nam-ki, the minister of the Office for Government Policy Coordination, to
discuss how to further regulate cryptocurrency transactions. Jung Ki-joon was
in charge of coordinating the opinions of the different ministries and offices
involved to prepare for the weekly meetings of Hong and relevant vice
ministers. The late official is presumed to have suffered a heart attack in his
sleep according to local media, and his colleagues are quoted as saying he had
been under “heavy stress” since taking charge of these efforts.
What’s your thought about this heart breaking news? Lets get
your opinion in the comment box, thanks
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