Korea and the US share investigation data on Terra

Korea and the US share investigation data on Terra

South Korean Justice Minister Han Dong-hoon met with US prosecutors to discuss cooperation in investigations related to crypto-related crimes. The two parties are said to have agreed to share their latest investigative data on Terra-LUNA.

Recently, the Korean Justice Minister – Han Dong-hoon was in New York to discuss how the two countries can cooperate in investigations related to financial crimes, especially crime. related to cryptocurrencies.

According to information from the local newspaper, on July 6, Hoon met Andrea M. Griswold and Scott Hartman. Both are members of the Securities and Commodities Task Force at the US Attorney’s Office.

Korea and the US share investigation data on Terra

 

The two sides discussed ways to exchange information and strengthen cooperation to ensure timely action as securities fraud cases related to the digital asset market are on the rise.

The two parties are said to have agreed to share their latest investigative data on Terra-LUNA – the crypto project under investigation in both countries.

The $40 billion Terra crash drew regulatory scrutiny from both countries. Recently, the US opened a new investigation into Do Kwon – Co-Founder, CEO of Terra. Meanwhile, South Korean prosecutors are looking into several charges including Do Kwon’s fraud, market manipulation and tax evasion.

The cooperation between the two countries is said to be the first cooperation. As in recent times, crypto-related crimes have become the focus of regulators. South Korea has emerged as one of the strictest countries regarding crypto-related regulations. Requires users to KYC accounts and anti-money laundering (AML) guidelines.

Terra has been pushing South Korean lawmakers to set up a new cryptocurrency oversight committee to evaluate newly listed projects on exchanges. Many experts predict that the collapse of the UST will cause regulators to favor centralized stablecoins over algorithmic stablecoins.

Due to the lack of clear crypto-regulations, tracking and prosecuting crypto-criminals (often involving cross-border transactions and money laundering) has become increasingly difficult and complex.

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