2 years ago
U.S. and South Korean authorities person agreed to collaborate connected the probe of Terra’s implosion, South Korea’s Yonhap News Agency reported July 6.
South Korea’s Justice Minister Han Dong-hoon met with Andrea Griswold, co-chief of the Securities and Commodities Task Force, and Scott Hartman, main of the Securities and Commodities Fraud Task Force, astatine the U.S. Attorney’s Office for the Southern District of New York.
Yonhap News Agency added that the 2 countries agreed to stock probe information astir the Terra (LUNA) web crash, which led to astir $40 cardinal successful losses.
South Korea is investigating the anticipation of fraud, taxation evasion, and marketplace manipulation connected the portion of Terraform Labs, portion the US is probing Do Kwon and whether TerraUSD breached definite regulations.
More regulation
Meanwhile, Terra’s clang has birthed caller crypto regularisation efforts successful respective countries. South Korea has formed a caller crypto committee to measure the crypto projects listed connected crypto exchanges.
In the US, determination are reports that the authorities is moving with Congress to formulate caller stablecoin authorities that could travel into effect earlier the extremity of this year.
The United Kingdom authorities proposed respective legislative amendments for crypto firms, including stablecoin issuers. Singapore’s fiscal regulator is considering caller broad regulations to support retail investors.
Meanwhile, the EU’s Markets successful Crypto-Assets (MiCA) framework seeks to enforce redemption reserve requirements connected stablecoins to screen withdrawals arsenic good arsenic a threshold for the regular transactions for the largest operators.
The station US, South Korea to cooperate implicit Terra investigation appeared archetypal connected CryptoSlate.
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