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....
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Terraform Labs co-founder Do Kwon has claimed that Korean authorities haven’t contacted or filed any charges against him in the Terra investigation. Terraform Labs co-founder Do Kwon has reportedly hired a lawyer from a domestic law firm in South Korea just days after claiming the South Korean authorities are yet to reach out to him or file any charges against him.According to a local media report, Kwon recently submitted a letter of appointment to an attorney at the Seoul Southern District Prosecutors' Office, the department that is currently investigating the Terra-LUNA collapse.While....
The U.S. and South Korean governments have reportedly agreed to share data on ongoing crypto cases, including the case surrounding Terraform Labs CEO Do Kwon and the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST).
U.S. and South Korea to Share Data on Crypto Investigations
South Korea’s Justice Minister Han Dong-hoon met with U.S. prosecution officials during a visit to New York this week, Yonhap News Agency reported Wednesday.
The U.S. officials present at the meeting included Andrea Griswold, chief counsel to the United States Attorney,....
South Korea aims to form a digital asset watchdog by June, according to local media sources. The committee will oversee regulation of the space until the government is able to draft basic laws on digital assets. South Korea Launch Crypto Watchdog The committee will be unveiled during the last week of June, according to a […]
South Korea announced Digital Assets Committee, launched an investigation and met with Asia-Pacific financial authorities. On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions.As reported by local news outlet Money Today Co., the FSS had recently demanded reports from 157 payment gateways about any service related to crypto, their plans for the....
South Korea’s top financial regulators have launched an emergency investigation into the collapse of cryptocurrency LUNA and stablecoin UST. The authorities have asked domestic cryptocurrency exchanges to provide information relating to transactions and investors of the two coins.
South Korea’s Emergency Investigation Into LUNA, UST
South Korea has launched an “emergency” investigation of domestic crypto exchange operators following the collapse of the terrausd stablecoin (UST) and terra (LUNA) cryptocurrency, Yonhap News reported Tuesday, citing....