Report – Regulation Bitcoin News

Report – Regulation Bitcoin News

The US and South Korean governments have reportedly agreed to share data on ongoing cryptocurrency cases, including the case surrounding Terraform Labs CEO Do Kwon and the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST).

US and South Korea to share data on crypto investigations

South Korean Justice Minister Han Dong-hoon met with officials of the US Attorney’s Office during a visit to New York this week, Yonhap news agency reported on Wednesday.

US officials present at the meeting included Andrea Griswold, Chief Counsel to the US Attorney, and Scott Hartman, Co-Chief of the Securities and Commodity Fraud Task Force of the US Attorney’s Office for the Southern District of New York.

Officials from the two countries discussed ways to enhance cooperation in the investigation of major securities fraud and financial crimes, including those related to cryptocurrencies. In particular, they discussed the exchange of information between the Seoul Southern District Prosecutor’s Office and the New York Southern District Office.

The two parties agreed to share their latest investigative data on ongoing crypto cases, including the case surrounding the collapse of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST), the publication reported.

Both the US and South Korea are investigating Terraform Labs founder Do Kwon and the implosion of LUNA and UST.

South Korean prosecutors are investigating possible fraud charges. In addition, the Korean government is considering imposing a a single listing standard on cryptocurrency exchanges.

In the US, the Securities and Exchange Commission (SEC). exploring Do Kwon and whether marketing UST before the crash violated investor protection regulations. LUNA’s implosion prompted SEC Chairman Gary Gensler to warn that many crypto tokens will fail. Meanwhile, US lawmakers are also calling for urgency regulation of stablecoins.

What do you think about the US and South Korea sharing data on crypto cases, including the collapse of Terra? Let us know in the comments section below.

Report – Regulation Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open-source systems, network effects, and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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