US and South Korea to Share Knowledge on Crypto Circumstances, Together with LUNA and UST Meltdown: Report

The U.S. and South Korean governments have reportedly agreed to share knowledge on ongoing crypto

The U.S. and South Korean governments have reportedly agreed to share knowledge on ongoing crypto circumstances, together with 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 Knowledge on Crypto Investigations

South Korea’s Justice Minister Han Dong-hoon met with U.S. prosecution officers throughout a go to to New York this week, Yonhap Information Company reported Wednesday.

The U.S. officers current on the assembly included Andrea Griswold, chief counsel to america Lawyer, and Scott Hartman, co-chief of the Securities and Commodities Fraud Activity Power of the U.S. Lawyer’s Workplace for the Southern District of New York.

The officers from the 2 international locations examined methods to reinforce cooperation within the investigation of main securities fraud and monetary crimes, together with these involving cryptocurrency. Particularly, they mentioned data alternate between the Seoul Southern District Prosecutors Workplace and the Southern District of New York workplace.

The 2 sides agreed to share their newest investigation knowledge on ongoing crypto circumstances, together with the case surrounding the collapse of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST), the publication conveyed.

Each the U.S. and South Korea are investigating Terraform Labs founder Do Kwon and the implosion of LUNA and UST.

South Korean prosecutors are trying into attainable fraud fees. As well as, the Korean authorities is contemplating imposing a unified itemizing commonplace on cryptocurrency exchanges.

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Within the U.S., the Securities and Trade Fee (SEC) is investigating Do Kwon and whether or not the advertising of UST earlier than it crashed violated investor-protection laws. The LUNA implosion prompted SEC Chairman Gary Gensler to warn that a number of crypto tokens will fail. In the meantime, U.S. lawmakers are additionally calling for the pressing regulation of stablecoins.

What do you consider the U.S. and South Korea sharing knowledge on crypto circumstances together with the Terra collapse? Tell us within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

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