2 years ago
Jamie Crawley is simply a CoinDesk quality newsman based successful London.
South Korea's fiscal authorities are looking to present measures to clasp crypto exchanges to greater scrutiny successful the aftermath of Terra's collapse, according to a study by The Korea Times.
Crypto was connected the docket astatine a National Assembly exigency seminar this week. A two-day-long gathering was designed to sermon the catastrophe involving the Terra stablecoin UST and its sister token LUNA, which both collapsed to adjacent zero earlier this month.
"We request to marque exchanges play their due role, and toward that extremity it is important for watchdogs to supervise them thoroughly," Rep. Sung Il-jong of the ruling People Power Party said. "When exchanges interruption rules, they should beryllium held legally liable to guarantee that the marketplace functions good without immoderate troubles."
Around 280,000 South Koreans are believed to person been victims of the abrupt plunge successful UST and LUNA's values, according to the Korea Times.
The country's Financial Services Commission plans to physique adjacent ties with instrumentality enforcers "to show immoderate amerciable acts successful the manufacture and support investors' rights," said its vice chair, Kim So-young.
Authorities are besides looking into whether Do Kwon, the CEO of Terra creator Terraform Labs and a national of South Korea, has perpetrated fraud successful targeting investors with his crypto project.
Cryptocurrency has been salient successful governmental treatment successful South Korea successful caller months, with some candidates successful March's statesmanlike predetermination taking crypto-friendly stances successful bid to entreaty to younger voters.
Winning campaigner Yoon Suk-Yeol pledged to deregulate the manufacture successful bid to “realize the unlimited imaginable of the virtual plus market.”
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Jamie Crawley is simply a CoinDesk quality newsman based successful London.
Jamie Crawley is simply a CoinDesk quality newsman based successful London.
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