"We need to include virtual currency in the list of assets subject to wealth disclosure at a time when speculative trading of virtual currency is overheating and crimes using virtual currency are on a steady rise," Noh said.

The legislation came as the government is trying to come up with stronger codes of conduct for public servants after a financial watchdog official was found to have profited from information on cryptocurrency regulations.

According to a government inspection, the Financial Supervisory Service worker earned about 7 million won ($6,550) in profit from selling about half of his virtual currency holdings last month, just two days before the government announced a package of measures aimed at curbing cryptocurrency speculation.

The profit represented more than 50 percent of his investment, and the finding sparked outrage among investors and others that the official, who is supposed to act as a watchdog, took advantage of unannounced information affecting the market. (Yonhap)