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South Korean cryptocurrency regulator found dead at home

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Reports suggest Jung Ki-joon suffered a heart attack, but the cause of death is still under investigation.

52-year-old Jung Ki-joon has been found dead in his home, the Wall Street Journal reports.

The head of economic policy at the Office for Government Policy Coordination helped coordinate efforts to create new legislation specifically aimed at suppressing cryptocurrency speculation and illicit activity.

Korea's Yonhap News Agency says Jung is presumed to have suffered a heart attack, and that he had been under heavy stress since taking charge of cryptocurrency controls. However, an official has only said that they are still unsure about the cause of death.

Last month Jung said that cryptocurrencies like bitcoin were not a form of legal currency and that the government would "strongly respond to excessive cryptocurrency speculation and illegal activity". This is similar to the stance taken around the world, including in Australia.

Cryptocurrencies are not considered equivalent to fiat currency anywhere, while scammy ICOs have been consistently springing up and disappearing with speculator funds.

Bitcoin and other cryptocurrencies became especially popular in South Korea, to the extent that they've often traded at higher prices there. It's estimated that the South Korean won has accounted for about 10% of fiat to bitcoin trades.

South Korean regulators have had an especially tumultous relationship with cryptocurrencies, with protests, allegations of insider trading, rumours of crackdowns and other difficulties.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, NANO, SALT, BTC

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