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Unexpected Terra (LUNA) Move from South Korea!

The South Korean government is planning a meeting with the country's leading cryptocurrency exchanges. The priority of the meeting is Terra (LUNA) !

Unexpected Terra (LUNA) Move from South Korea!

South Korea’s ruling party is said to be planning an emergency meeting with officials of the five largest cryptocurrency exchanges operating in the country on Tuesday, and the meeting is said to be of close interest to Terra (LUNA) .

Terra is on the agenda

According to data from local news channels, Newspim, the ruling party of South Korea, reported that in a planned meeting with the officials of the five largest crypto exchanges operating in the province on May 24, 2022, the consequences of the $ 40 billion loss from the Terra collapse will be discussed.

According to the data obtained, it is claimed that five cryptocurrency exchanges will be held responsible for the losses incurred by investors and due to the lack of efforts to protect users.

Yoon Chang-Hyeon, a member of South Korea’s ruling party and also chairman of the parliament’s private virtual assets committee, made the following statements on the subject:

“We will more frequently audit how cryptocurrency exchanges protect their investors.”

In addition, ruling party member Chang-Hayeon said on Tuesday last week that the National Assembly should hold an urgent meeting to investigate the Terra incident, and expressed his dissatisfaction that local cryptocurrency exchanges are keeping UST and LUNA transactions open despite client risks.

Tight control

In addition, South Korean authorities are examining all 34 crypto-related companies, including eight cryptocurrency wallets, 26 cryptocurrency exchanges and security management agencies. In addition, the ruling party Newspim calls for cryptocurrency exchanges to investigate whether all key customer protection tools and money laundering measures are properly implemented.

Among those attending the meeting on Tuesday are Seong Il-jong, chairman of the Policy committee, Jae-ok Yoon, chairman of the political affairs committee, and Yoon Chang-hyeon, the ruling party’s virtual entity special chairman. Other panel participants include Kim Jeong-gak, vice-chairman of the Financial Services Commission and head of the FIU, officials from neighboring ministries such as the Financial Supervisory Service and the Fair Trade Commission, and the National Police Service.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton Theblockchainnew.com he is the editor-in-chief of the news portal. Blockchain is love.

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