South Korean exchanges team up to prevent another Terra-like crash
Five of the country's top exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, have agreed to form a joint council to work on investor protection rules autonomously.
Five of the country's top exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, have agreed to form a joint council to work on investor protection rules autonomously.
Do Kwon and his company, Terraform Labs, must comply with subpoenas served by the U.S. securities regulator in their investigation into whether Kwon and Terraform violated federal securities laws.
As authorities in South Korea investigate Do Kwon and Terraform Labs due to the LUNA/UST implosion, major exchanges like Kraken, FTX, and Binance listed LUNA2 without a second thought.
The unit is a joint financial and securities crime investigation team from the Financial Services Commission and the Financial Supervisory Service and was disbanded in 2020.
The legal team members include General Counsel Marc Goldich, Chief Corporate Counsel Lawrence Florio, and Chief Litigation and Regulatory Counsel Noah Axler.
Joshua Henslee released a video discussing his take on the digital currency market chaos last week, particularly how the 'leaders' in the space are handling the issue.
Do Kown had argued that the securities regulator doesn’t have jurisdiction over him as he is a Korean national and that it also violated his right to due process with an improper subpoena.
Do Kwon and his project have filed a motion with a New York court claiming that the SEC violated procedure by serving him a subpoena during an event in NY.
After serving the Terraform CEO with subpoenas at recent public event, the securities regulator said the startup has failed to comply with the legal requests.