THELOGICALINDIAN - The South Korean government is because arty tougher regulations including a unified advertisement accepted on all cryptocurrency exchanges in the country afterward the collapse of cryptocurrency terra LUNA and stablecoin terrausd UST
Korean Government’s Meeting With Cryptocurrency Exchanges
The South Korean government is alive albatross for the blast of cryptocurrency terra (LUNA) and algebraic stablecoin terrausd (UST) assimilate crypto exchanges, the Korea Times appear Thursday.
The Korean National Assembly and the government captivated an emergency affair with the active of above crypto exchanges in the country Tuesday to altercate measures to anticipate the ceremony of the LUNA and UST implosion. However, the assembly and banking authorities appeared to abutment the artifice of tougher regulations on crypto exchanges, the advertisement conveyed.
The Korean government has criticized crypto exchanges for their delayed acknowledgment to the collapse of the two cryptocurrencies. Several top Korean crypto exchanges did not delist LUNA until two weeks later. Some critics said they carefully delayed delisting to acquire added commissions from the incident.
Rep. Yoon Chang-hyun of the cardinal People Power Party aloft apropos over crypto exchanges’ cryptic advertisement and delisting standards. He stressed:
Responding to the lawmakers’ altercation about arty a unified advertisement accepted beyond calm cryptocurrency exchanges, Lee Sirgoo, the CEO of Dunamu, which operates Upbit, the country’s top exchange, explained that it will not break the problem. “Crypto assets can be beatific to across exchanges, and abounding crypto investors are already application non-Korean headquartered exchanges,” he said.
Rep. Sung Il-jong of the People Power Party reportedly said during the meeting: “We charge to accomplish exchanges comedy their able role, and against that end, it is acute for watchdogs to administer them thoroughly.” He added:
Vice-Chairman Kim So-young of the Banking Services Commission (FSC), the country’s top banking regulator, said: “We are activity to body abutting ties with the Ministry of Justice, the case and police, in a bid to adviser any actionable acts in the industry and assure investors’ rights.”
An official from one of the calm cryptocurrency exchanges opined: “Exchanges can calmly become a ambition of criticism at this aeon of time back no specific authoritative guideline has been introduced.” He added:
The National Assembly affairs to authority a audition affair on the LUNA adventure in the abreast future. However, the advertisement acclaimed that Do Kwon is absurd to appear back his abode are unknown.
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