The ruling party's National Assembly representative from the Democratic Party of Korea voluntarily apologized and resigned due to a series of negative reports. This politician, who also serves as a member of the National Assembly's Political Affairs Committee, was recently exposed for allegedly pressuring an airline to obtain hotel vouchers, embezzling public funds through his wife, and more importantly—using his authority to facilitate his son's employment at the cryptocurrency exchange Bithumb, then turning around to conduct targeted supervision of a major competitor of Bithumb within the National Assembly.

The turning point occurred in November. After tech giant Naver announced a $10 billion acquisition of a major exchange operator, the representative allegedly instructed staff to attack the rival and publicly criticized the exchange under the pretext of market monopoly. Ironically, the Political Affairs Committee he belongs to is responsible for supervising financial institutions—this power was used to open backdoors for his own family and suppress competitors, sparking strong public suspicion.

Although he denied the allegations, claiming "my son's employment has nothing to do with me and was the result of open recruitment," he ultimately chose to resign from his National Assembly representative position, citing a desire not to be a burden to the Democratic Party and the government. This farce reflects the power struggles within the crypto market—when policymakers also have vested interests, fair market competition becomes a joke.