According to reports, the U.S. government and South Korean governments agreed to share information on current crypto cases including that of Terraform Labs CEO Do Kwon as well as the fall of stablecoin terrausd and cryptocurrency terra (LUNA).
South Korea and the United States will share data on crypto investigations
South Korea’s Justice Minister Han Dong-hoon met with U.S. prosecution officials during a visit to New York this week, Yonhap News Agency reported Wednesday.
The U.S. officials present at the meeting included Andrea Griswold, chief counsel to the United States Attorney, and Scott Hartman, co-chief of the Securities and Commodities Fraud Task Force of the U.S. Attorney’s Office for the Southern District of New York.
They discussed ways of enhancing cooperation between the countries in investigating major financial frauds and other criminal activities, such as cryptocurrency. The two countries discussed the exchange of information between their respective offices in Seoul and New York.
Both sides were willing to share the latest data from ongoing cases in crypto, such as the one surrounding the crash of cryptocurrency terra and algorithmic stablecoin terrausd.
The U.S. as well as South Korea are looking into Do Kwon, Terraform Labs founder and the implosions of LUNA/UST.
South Korean authorities are investigating possible fraud allegations. Additionally, the Korean government has been considering imposition of a standard for unified listing on crypto exchanges.
Do Kwon is being investigated by the Securities and Exchange Commission in the U.S. to see if the way UST was marketed before its collapse violated any investor-protection laws. Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), warned that many crypto tokens would fail after the LUNA collapse. U.S. legislators are calling for urgent regulation of stablecoins.
Do you have any thoughts about South Korea and America sharing crypto case data, such as the Terra fall? Please comment below.
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