Currently, it cannot be traded on South Korea's major virtual asset exchanges, and there is no prospect of converting it into cash. Donations that were supposed to be used for scholarships are in limbo, and the university is using them to promote the coin company.
There has also been criticism that it has been used. At the comprehensive audit held on the 26th, Moon Jeong-bok, a member of the main opposition Democratic Party of Japan and member of the National Assembly Education Committee, received a coin donation.
We interviewed Jang Jae-guk, the president of Dongseo University. Moon said, ``Generally, before accepting donations other than cash, such as bonds or coins, legal considerations and preliminary deliberations are conducted.''
It is necessary,'' he said, adding, ``The problem is that Dongseo University did not follow these procedures.'' Last year, South Korean game company WEMADE
, Sogang University, and Dongseo University each donated the virtual currency ``WEMIX'' worth 1 billion won (approximately 110 million yen) in the name of a development fund. However, in November last year,
The stock exchange has decided to delist Wemix, and the universities that received the donations are now in a difficult situation where they cannot sell them. In some cases, donated coins are easily managed without internal policies, effectively
Some have pointed out that they are paying a ``compensation'' for neglect. Mr. Moon asked President Jang, ``Has Dongseo University reviewed the accounting procedures for the coins and the laws related to the establishment of electronic wallets?''
When asked, President Jang replied, ``Since this is a new (donation) field, how should the accounting be handled?...We did not undergo a legal review.''
Mr. Moon will lock up the coins so that they cannot be sold for one year (prohibition of sale for a certain period of time).
), ``In the case of domestic and international donations, we try to convert them into cash immediately without locking up. sex
"It's a good fit, but Tosai University didn't even make an investment, so why did they agree to the lock-up clause?" he questioned. When President Jang said, ``I didn't have enough knowledge about coins.''
, Moon reiterated, ``In that case, it should be subject to legal consideration.'' In response, President Chang said, ``They said they would give me a donation, so I accepted it because it was a blessing for me as president.''
I was told by WeMade that they would lock me up for a year, so I thought that was the case (of course)." Mr. Moon said, ``In the end, I couldn't find a way to turn it into cash until now.
It was not possible to use the money for the purpose of the donation,'' and added, ``In order to convert money into cash, you must create an account at a domestic exchange.There are reports that it is difficult to actually open a wallet in the school's name.''
When I asked him if he had received the same, President Chang replied, ``Yes?'' as if he did not know. Mr. Moon said, ``(Due to current management) it cannot be received in the name of the school,'' and ``1 billion won will be given to the chairman of the board.''
I didn't give it to you. He donated 1 billion won to be used for children and for scholarships. I haven't even thought about how to receive it,'' he said in a loud voice. Regarding this, President Zhang said, ``I did not receive it.
"I was thinking of turning it into cash in a year's time." It was also pointed out that the school was used to increase the value of the coin. Moon said, ``In the virtual currency market, the status of academic and institutional circles is not recognized.
``It is important that the coins be given to them for the purpose of public relations or investment for the coin company, rather than for the purpose of donation.''
President Chang said, ``I'm not sure what the intentions are, but We Made is a company where students from our school join the company.''
"We are a company with a strong desire to work with them, and we have built a variety of cooperative relationships with them over the years." In addition, regarding the follow-up measures that could not be converted into cash due to the delisting issue, ``Wemade has recently become a problem.
``We are in the process of deciding what direction we will take,'' and made it clear that they will also consider accounting treatment.
2023/10/27 06:45 KST
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