Do Kwon faces legal trouble in South Korea, China remains Bitcoin mining powe...

Do Kwon faces legal trouble in South Korea, China remains Bitcoin mining powe...

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekCourt documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crash Terraform Labs co-founder dissolved two of the entitys locations in South Korea, as well as Terraform Labs Korea, just prior to the LUNA and UST collapse, according to legal documents. Although the decision to dissolve the offices....


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In wake of Terra collapse, South Korea plans new crypto oversight committee: ...

The infamous collapse of Terra may have hastened the creation of a supervision and control entity for virtual assets, which is set to launch in early June. The Terra ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its’ creator, was the most concerned country of them all.Amid signs that Terraform Labs co-founder Do Kwon was facing legal trouble in South Korea, the country’s ruling party announced Tuesday that it will launch a new Digital Asset Committee in early June, according to local news outlet....

Do Kwon Dissolved Terraform Labs Korea Days Before Collapse of Terra LUNA, UST

Official records show Do Kwon dissolved Terraform Labs Korea, closing down its headquarters and sole branch just days before the collapse of terra crypto (LUNA) and stablecoin terrausd (UST). Do Kwon Shut Down Terraform Labs Korea Before UST and LUNA Fallout Terraform Labs founder Do Kwon reportedly closed down his company in Korea days before the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). According to South Korea’s supreme court registry office, Terraform Labs Korea decided to dissolve its Busan headquarters and Seoul branch at the general shareholders....

Law Decoded, May 30–June 6: Terra’s aftermath in China, Japan and South Korea

Last week brought some notable reactions to the stablecoin’s depegging in the East Asia region. The “long waves” of TerraUSD’s May 7 collapse, which we noted two newsletters ago, are extending even further. Last week brought some notable reactions to the stablecoin’s depegging in the East Asia region. A Chinese state-owned media outlet, the Economic Daily has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem. It might even mean a complete ban on stablecoins to prohibit ownership,....

Terra Loses More Form: Do Kwon Faces Tax Evasion Charges; Law Firm Sues To Se...

The multibillion-dollar collapse of Terra Labs’ stablecoin and the LUNA token is still ringing across the cryptocurrency industry, and numerous questions for Terra’s South Korean founder, Kwon Do-hyung, have emerged from the debris of wasted investments and shattered blockchain ideals. In the midst of the Terra disaster, Do Kwon, the company’s founder, is being investigated […]

Bitcoin Price Hits $2,850 in South Korea, Extreme Premium

Bitcoin price reached $2,850 in South Korea on May 23, due to the rapidly rising demand for Bitcoin and other digital currencies such as Ethereum’s Ether (ETH). While arbitrage opportunities in South Korea always existed since the launch of Korbit, Coinone and Coinhumb, the three leading Bitcoin exchanges in the country, the premium rate rarely went past 10 percent. On May 23, the premium rate on South Korean Bitcoin exchanges nearly reached 30 percent, demonstrating a trading value of $2,850 for Bitcoin, while Bitcoin was being traded in the US and China for around $2,100. The driving....