South Korean politician accepts crypto donations

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Malaysian officials have arrested a 28-year-old suspect accused of allegedly mining illicit cryptocurrencies, according to a report released Sunday (Jan. 2) by Micky.

Police have identified 30 mining stations using stolen electricity from the grid. The stolen electricity was valued at RM 2 million ($ 478,000) and the operation involved the theft of electricity valued at $ 102,239.

Although cryptocurrency mining is not illegal in Malaysia, theft of electricity carries heavy penalties, and interference with power lines is punishable by a fine of $ 23,700 and a five-year term. jail.

The commander of Perak state, where the suspect was arrested, said he is still trying to identify who is behind the mining operation and how long it has been going on.

Additionally, the commander said there had been 1,720 bitcoin mining equipment, 15 monitors, 22 processors, 16 keyboards, 56 modems, and numerous stolen fans and TV cameras.

Malaysia is believed to produce around 4.5% of the world’s mining power, according to figures from the Cambridge Center for Alternative Finance.

Meanwhile, Lee Jae-myung’s presidential campaign in South Korea will use bitcoin, ethereum and three other cryptocurrencies as payments, according to a UToday report from Sunday, January 2.

The three additional cryptos have not yet been decided, but will be chosen at a later date by its electoral committee.

This month, Lee’s campaign will start receiving contributions from those who wish to pay in crypto, which will be converted to cash using a local exchange. Lee’s campaign will also factor non-fungible tokens (NFTs) into the crypto fundraising plan.

With the new plan – the first presidential campaign in history to use crypto as a form of payment – Lee plans to try to win over younger voters. According to the report, a survey released in November indicated that 40.5% of respondents between the ages of 20 and 40 have invested in crypto.

Lee also recently said his plans included making South Korea the leader of the global cryptocurrency scene, calling digital coins an “undeniable reality” in a recent conference.

Additionally, Lee wants to ensure that cryptos have more deduction limits and are not taxed.

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