South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party.
A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party (DP), the local news agency Yonhap reported on Aug. 30.
The subcommittee rejected the proposal on Aug. 29 after the ruling People Power Party (PPP) and the DP divided evenly over the motion in a 3–3 vote. A majority of votes was needed for the motion to be passed, the report notes.
As previously reported, Kim came under fire earlier this year when he was found to have once held at least $4.5 million in Wemix (WEMIX) tokens, developed by the South Korean blockchain game developer Wemade. Wemix tokens had been allowed for trading on major exchanges in South Korea before a local court ordered to delist the tokens on the platforms in late 2022.
Kim’s involvement in WEMIX investments spurred major concerns over potential conflicts of interest, using insider information and even money laundering. The case contributed to the rapid development of a legal initiative to require officials to report on their holdings of cryptocurrencies like Bitcoin (BTC) in South Korea.
Officials in South Korea are not alone in being asked to report on their cryptocurrency holdings in the country. In July, South Korea’s Financial Services Commission announced a new bill that would require all firms that issue or hold cryptocurrencies to disclose their holdings from 2024.
In mid-August, the South Korean city of Cheongju also said that it would start confiscating cryptocurrency from local tax delinquents, requiring exchanges, such as Upbit and Bithumb, to report on such perpetrators.
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Canterbury MP Rosie Duffield has resigned from the Labour Party.
The 53-year-old MP is the first to jump ship since the general election and in her resignation letter criticised the prime minister for accepting thousands of pounds worth of gifts.
She told Sir Keir Starmer the reason for leaving now is “the programme of policies you seem determined to stick to”, despite their unpopularity with the electorate and MPs.
In her letter she accused the prime minister and his top team of “sleaze, nepotism and apparent avarice” which are “off the scale”.
“I’m so ashamed of what you and your inner circle have done to tarnish and humiliate our once proud party,” she said.
Since December 2019, the prime minister received £107,145 in gifts, benefits, and hospitality – a specific category in parliament’s register of MPs’ interests.
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Ms Duffield, who has previously clashed with the prime minister on gender issues, attacked the government for pursuing “cruel and unnecessary” policies as she resigned the Labour whip.
She criticised the decision to keep the two-child benefit cap and means-test the winter fuel payment, and accused the prime minister of “hypocrisy” over his acceptance of free gifts from donors.
“Since the change of government in July, the revelations of hypocrisy have been staggering and increasingly outrageous,” she said.
“I cannot put into words how angry I and my colleagues are at your total lack of understanding about how you have made us all appear.”
Ms Duffield also mentioned the recent “treatment of Diane Abbott”, who said she thought she had been barred from standing by Labour ahead of the general election, before Sir Keir said she would be allowed to defend her Hackney North and Stoke Newington seat for the party.
Her relationship with the Labour leadership has long been strained and her decision to quit the party comes after seven other Labour MPs were suspended for rebelling by voting for a motion calling for the two-child benefit cap to be abolished.
“Someone with far-above-average wealth choosing to keep the Conservatives’ two-child limit to benefit payments which entrenches children in poverty, while inexplicably accepting expensive personal gifts of designer suits and glasses costing more than most of those people can grasp – this is entirely undeserving of holding the title of Labour prime minister,” she said.
Ms Duffield said she will continue to represent her constituents as an independent MP, “guided by my core Labour values”.