THELOGICALINDIAN - South Koreas top banking regulators accept launched an emergency analysis into the collapse of cryptocurrency LUNA and stablecoin UST The authorities accept asked calm cryptocurrency exchanges to accommodate advice apropos to affairs and investors of the two coins
South Korea’s Emergency Investigation Into LUNA, UST
South Korea has launched an “emergency” analysis of calm crypto barter operators afterward the collapse of the terrausd stablecoin (UST) and terra (LUNA) cryptocurrency, Yonhap News appear Tuesday, citation bearding sources.
Last week, UST absent its peg to the U.S. dollar, sending its amount and the amount of terra (LUNA) into chargeless fall. At the time of writing, UST is trading at beneath than $0.09 while LUNA is abreast worthless.
South Korean top banking regulators, the Banking Services Commission (FSC) and the Banking Supervisory Service (FSS), accept asked bounded cryptocurrency barter operators to allotment advice apropos to UST and LUNA, sources told the account outlet.
An official of a bounded crypto barter abettor was quoted as saying:
“I anticipate they did it to draw up measures to abbreviate the accident to investors in the future,” the barter official said.
The advice requested by the authorities includes trading volumes, closing prices, and numbers of accordant investors, the advertisement noted, abacus that the regulators additionally asked the barter operators to accommodate their countermeasures to the contempo crypto bazaar blast and analyses of the account of the collapse.
UST and LUNA were invented by Kwon Do-hyung (aka Do Kwon), a South Korean national. His company, Terraform Labs, is congenital in Singapore. Since the collapse of the two cryptocurrencies, Kwon has appear up with a few affairs to animate the bill but none has formed so far.
Kwon’s wife reportedly approved police protection afterwards an anonymous man trespassed into their accommodation architecture in South Korea. According to media reports, the man was after articular as an broker who absent almost $2 actor in LUNA’s collapse.
What do you anticipate about South Korea ablution an analysis into UST and LUNA afterwards the two cryptocurrencies collapsed? Let us apperceive in the comments area below.
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