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	<title>Lawmaker &#8211; Right Patriots</title>
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		<title>South Korean Lawmaker Faces Prison for Concealing $6.8M in Crypto Profits</title>
		<link>https://rightpatriots.com/south-korean-lawmaker-faces-prison-for-concealing-6-8m-in-crypto-profits/</link>
		
		<dc:creator><![CDATA[Right Patriots]]></dc:creator>
		<pubDate>Wed, 18 Dec 2024 08:25:42 +0000</pubDate>
				<category><![CDATA[Crypto]]></category>
		<category><![CDATA[6.8M]]></category>
		<category><![CDATA[Concealing]]></category>
		<category><![CDATA[faces]]></category>
		<category><![CDATA[Korean]]></category>
		<category><![CDATA[Lawmaker]]></category>
		<category><![CDATA[Prison]]></category>
		<category><![CDATA[Profits]]></category>
		<category><![CDATA[South]]></category>
		<guid isPermaLink="false">https://rightpatriots.com/south-korean-lawmaker-faces-prison-for-concealing-6-8m-in-crypto-profits/</guid>

					<description><![CDATA[Key Takeaways South Korea prosecutes lawmaker for hiding $6.8 million in crypto profits between 2021-2022. Prosecutors seek a six-month prison sentence for the former Democratic Party legislator. Political turmoil in South Korea has delayed the implementation of a crypto tax until 2027. Kim Nam-guk, a former Democratic Party lawmaker, could face six months in prison [&#8230;]]]></description>
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<p><span style="font-weight: 400;"><br />
<span class="ccn-focus-text-wrap">Key Takeaways</span></span></p>
<ul>
<li style="font-weight: 400;" aria-level="1">South Korea prosecutes lawmaker for hiding $6.8 million in crypto profits between 2021-2022.</li>
<li style="font-weight: 400;" aria-level="1">Prosecutors seek a six-month prison sentence for the former Democratic Party legislator.</li>
<li style="font-weight: 400;" aria-level="1">Political turmoil in South Korea has delayed the implementation of a crypto tax until 2027.</li>
</ul>
<p>Kim Nam-guk, a former Democratic Party lawmaker, could face six months in prison for allegedly concealing millions in cryptocurrency holdings and underreporting his assets during the 2021 and 2022 financial disclosure processes.</p>
<h2>Concealing Millions in Profits</h2>
<p><a href="https://www.donga.com/news/Society/article/all/20241218/130669668/1" target="_blank" rel="nofollow external noopener noreferrer" auto-attrs="" data-wpel-link="external">Prosecutors allege<i class="_s"> </i><i class="ccn-icon-external _i"/></a> that Kim deliberately omitted key details about his cryptocurrency assets, which totaled 9.9 billion won (approximately $6.8 million) in 2021.</p>
<p>While officially reporting assets worth 1.2 billion won ($835,000), the South Korean politician failed to declare significant crypto profits. In 2022, he was accused of repeating the violation, hiding an additional 990 million won ($689,000).</p>
<p>The indictment also claims Kim converted undeclared crypto earnings into other digital tokens and moved funds into bank accounts to obscure the full extent of his wealth.</p>
<p>Prosecutors argue that these actions were intended to evade scrutiny from the National Assembly Ethics Committee, which reviews asset declarations by public officials.</p>
<h2>Delays in Crypto Tax Amid South Korea’s Political Turmoil</h2>
<p>Kim’s case underscores South Korea’s fraught relationship with <a href="https://www.ccn.com/education/cryptocurrency-regulations-in-south-korea/" auto-attrs="" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">crypto regulation. </a></p>
<p>The country, known for its strict oversight of digital assets, has yet to implement <a href="https://www.ccn.com/news/crypto/south-koreas-crypto-tax-pushed-back-2027/" auto-attrs="" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">a long-debated crypto tax</a> due to political infighting and shifting legislative priorities.</p>
<p>Initially scheduled for January 2025, the crypto tax—which would impose a 20% levy on capital gains exceeding 2.5 million won ($1,875)—was postponed.</p>
<p>Ongoing political instability and uncertainty about comprehensive crypto policies have pushed its implementation further to January 2027.</p>
<p>The crypto tax delay follows a tumultuous period in South Korean politics, including <a href="https://www.bbc.com/news/articles/c0lgw1pw5zpo" target="_blank" rel="nofollow external noopener noreferrer" auto-attrs="" data-wpel-link="external">an attempted coup<i class="_s"> </i><i class="ccn-icon-external _i"/></a>, an overnight reversal by the opposition, and the president’s impeachment—all within two weeks.</p>
<p>The Democratic Party, which had previously resisted the crypto tax delay, accused the ruling party of using the postponement as a political tactic.</p>
<p>
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		<title>NJ Lawmaker Provides Ominous Statement On Drone Sightings: &#8216;They Can&#8217;t Tell Us&#8217;</title>
		<link>https://rightpatriots.com/nj-lawmaker-provides-ominous-statement-on-drone-sightings-they-cant-tell-us-2/</link>
		
		<dc:creator><![CDATA[Right Patriots]]></dc:creator>
		<pubDate>Mon, 16 Dec 2024 16:25:36 +0000</pubDate>
				<category><![CDATA[Politics]]></category>
		<category><![CDATA[drone]]></category>
		<category><![CDATA[Lawmaker]]></category>
		<category><![CDATA[Ominous]]></category>
		<category><![CDATA[sightings]]></category>
		<category><![CDATA[Statement]]></category>
		<guid isPermaLink="false">https://rightpatriots.com/nj-lawmaker-provides-ominous-statement-on-drone-sightings-they-cant-tell-us-2/</guid>

					<description><![CDATA[A New Jersey state senator believes the federal government’s relative silence and attempts to downplay concerns over weeks of drone sightings indicates that they are attempting to “hide” information that would cause mass panic if the public were to find out. Numerous Biden Administration officials have attempted to downplay the drone sightings, which were first [&#8230;]]]></description>
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<p>A New Jersey state senator believes the federal government’s relative silence and attempts to downplay concerns over weeks of drone sightings indicates that they are attempting to “hide” information that would cause mass panic if the public were to find out.</p>
<p>Numerous Biden Administration officials have attempted to downplay the drone sightings, which were first reported about a week before Thanksgiving. Drones were initially spotted around sensitive military installations, though the sightings have expanded to residential and waterfront areas in New Jersey, while sightings have also been reported in New York, Pennsylvania and as far north as Connecticut.</p>
<p>Several Biden Administration officials, including national security communications advisor John Kirby and FBI Director Christopher Wray, have downplayed the drone sightings and chalked the majority of them up to commercially available drones or misidentified airplanes. “<span class="inline py-1 m-0">We haven’t seen anything unusual. We know of no threat. Secondly,</span><span class="inline py-1 m-0"> we have gone to Congress repeatedly</span><span class="inline py-1 m-0"> asking for more authority to counter drone activity</span><span class="inline py-1 m-0"> and we have also asked for more authority</span><span class="inline py-1 m-0"> to give to the state and local officials </span>under our supervision because it correctly notes those authorities need to be expanded,” said Department of Homeland Security Secretary Alejandro Mayorkas.</p>
<p><em><strong>(VOTE: Should JD Vance Run For President In 2028?)</strong></em></p>
<p>New Jersey State Senator Jon Bramnick is unconvinced by the federal government’s claims and suggested they are hiding key information during an interview with NewsNation.</p>
<p><span class="inline py-1">“You know, this started as some good questions, and now it’s reached a point of almost insanity.</span><span class="inline py-1"> You think about a United States Senator who has to go out with the local police to look</span><span class="inline py-1"> for drones? </span><span class="inline py-1">That’s where a United States Senator is getting information?” Bramnick said, pointing to efforts from Senator-elect Andy Kim, who has been accompanying local police on patrols to monitor the drones.</span></p>
<p>He went on to report that numerous high-ranking state law enforcement officials are unsatisfied with the briefings they have received from the federal government, in addition to what they believe is a poor response. Bramnick previously called on Governor Phil Murphy, a Democrat, to declare a limited state of emergency focused on drones after the FAA closed airspace in multiple Garden State locations earlier this month.</p>
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<p>“If the <span class="inline py-1 m-0">Department of Defense</span><span class="inline py-1 m-0"> Doesn’t know where the origins are for these so-called drones</span><span class="inline py-1 m-0"> then we’re in trouble. We always thought that if there was something in the air, </span><span class="inline py-1 m-0">the size of a car, that the Department of Defense would know where it came from,</span><span class="inline py-1 m-0"> what its origin was, and what its purpose was. Now you have a United States</span><span class="inline py-1 m-0"> Senator going out with the local police, what, to look for fireworks at night?” the New Jersey lawmaker added, referring to the situation as “terrifying” and “terrifying.”</span></p>
<p>He was then asked about statements from President-elect Trump, who called for the drones to be shot down if the federal government has no clue where they are coming from. “Let the public know, and now. Otherwise, shoot them down!!!” Trump wrote in a Truth Social post on Friday.</p>
<p><span class="inline py-1 m-0">“Well, I would leave that up to the Department of Defense, but how can the Department of Defense not provide information to the public?</span><span class="inline py-1 m-0"> This is a shock to me. You know, I have a general belief in government,</span><span class="inline py-1 m-0"> government. But this is taking me to the end of my belief that government is really being honest,” Bramnick responded.</span></p>
<p><span class="inline py-1 m-0">“Now there’s been some apparently top secret briefings, right, with congresspeople. Now they</span><span class="inline py-1 m-0"> come out of that, and I heard Josh Gottheimer come, the representative, and he said, ‘well,</span><span class="inline py-1 m-0"> I’m not getting a lot of information,’ but I don’t think it’s a threat. So my guess is, </span>information but they’re holding it back and now what you have is panic.”</p>
<p>He also questioned statements from the FBI and senior Biden Administration officials who have claimed the drones pose no known threat to the public. “<span class="inline py-1 m-0">Well, no evidence that this is a threat.</span><span class="inline py-1 m-0"> What does that mean? </span><span class="inline py-1 m-0">How does that help an average citizen and no evidence of a threat?</span><span class="inline py-1 m-0"> You mean they didn’t do anything sinister yet?</span><span class="inline py-1 m-0"> Well, you know, yet.</span><span class="inline py-1 m-0"> Yeah, I probably can make that statement,” Bramnick said.</span></p>
<p>“I’ve never seen anything go on this long and why would the government allow the public to be so frustrated. Why would the government allow a United States senator to be so frustrated? We heard this from both sides of the aisle. Now that brings to me to the point that whatever these drones are doing, the government really doesn’t want us to know. What that must mean is they’re more concerned with us getting knowledge and being afraid of that information than having no knowledge and having all these questions,” the New Jersey lawmaker went on to say.</p>
<p>“That’s why I’m worried about it. It must be something going on that they can’t tell us because they are so fearful of what the public’s gonna do when they hear what the drones are doing. There’s no way the Department of Defense does not know what’s going on. We have not heard, have we heard one word from the Department of Defense? Zero.”</p>
<p><em><strong>(FREE REPORT: Take Advantage Of Trump’s New “IRS Loophole” ASAP)</strong></em></p>
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