Kevin Helms
An Austrian economics student, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
Report – Regulation Bitcoin News
The US and South Korean authorities have reportedly agreed to share data on ongoing cryptocurrencies, including the case of Terraform Labs CEO Do Kwon and the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST).
The United States and South Korea share data on crypto surveys
South Korean Justice Minister Han Dong-hoon met with U.S. prosecutors during a visit to New York this week, the Yonhap News Agency reported on Wednesday.
The U.S. officials present at the meeting included Andrea Griswold, chief attorney for the U.S. Attorney’s Office, and Scott Hartman, co-chief of the Securities and Commodities Fraud Task Force at the U.S. Attorney’s Office for the Southern District of New York.
Officials from the two countries explored ways to strengthen cooperation in the investigation of major securities fraud and economic crime, including those involving cryptocurrencies. In particular, they discussed the exchange of information between the Seoul Southern District Prosecutor’s Office and the Southern District Office in New York.
The two sides agreed to share their latest investigative data on ongoing cryptocurrencies, including the case surrounding the collapse of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST), the publication said.
Both the United States and South Korea are investigating Terraform Labs founder Do Kwon and the implosion of LUNA and UST.
South Korean prosecutors are looking into possible fraud allegations. In addition, the Korean government is considering introducing a uniform listing standard on cryptocurrency exchanges.
In the United States, the Securities and Exchange Commission (SEC) is investigating Do Kwon and whether the marketing of UST before it crashed violated investor protection regulations. The LUNA implosion prompted SEC Chairman Gary Gensler to warn that many cryptocurrencies will fail. Meanwhile, US lawmakers are also calling for an urgent regulation of stack coins.
What do you think about the US and South Korea sharing data on cryptocurrencies including the Terra collapse? Let us know in the comments section below.
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