Join the larget crypto conference of 2022 in Bitcoin

Korean crypto exchanges may face legal issues because of Terra collapse

0
(0)
Korean crypto exchanges may face legal issues because of Terra collapse 11

The South Korean ruling party arranged a meeting with the executives of the crypto exchanges regarding Terra’s collapse.

South Korea is a highly crypto-friendly country in the world but here laws are highly strict to ensure the safety of the investors on crypto exchanges and also to prohibit the illegal use of cryptocurrencies, like money laundering or terrorist funding. Even the rules to list the new crypto assets on the South Korean exchanges took huge time because of the lengthy documentation process.

On 23 May, Local news media outlet Newspim reported that the ruling party of South Korea scheduled a meeting between the several executives of Crypto exchanges to discuss the collapse of the Terra ecosystem, which resulted in a huge loss for the citizens.

The top five leading local crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax will be the important crypto firms to discuss on the Terra collapse, which saw a $40 billion loss.

Today was the scheduled date for this meeting. Reportedly the meeting will figure out the possibilities, where Korean crypto exchanges were responsible for the collapse of the Terra ecosystem.

Yesterday  Yoon Chang-Hyeon, a member of South Korea’s ruling party and chairman of the parliament’s special virtual assets committee, said that they will check the sideways steps of Korean crypto exchanges, where they failed to stop the loss for the crypto investors.

He said:

“We will check (the exchanges’) investor protection measures,”

Earlier this, Yoon said that crypto exchanges did not take suitable action against the risky situation, where trading of Terra’ UST & Luna coin trade was not safe for the crypto traders.

Now it will be interesting to see the result of this meeting because on one side usual high panic & high sell pressure resulted in the collapse of Terra’ Native & stable coin downfall, on the other hand, crypto exchanges were able to stop the trading under that situation to keep crypto traders under the safe zone.

Read also: Robert Kiyosaki emphasizes saving Bitcoin & Gold in this situation

Korean crypto exchanges may face legal issues because of Terra collapse

 

https://bitcoinik.com/korean-crypto-exchanges-may-face-legal-issues-because-of-terra-collapse/feed/

https://bitcoinik.com/korean-crypto-exchanges-may-face-legal-issues-because-of-terra-collapse/feed/

 

 

 

 

Buy bitcoin and other cryptocurrencies on crypto exchanges  Binance ,  Coinbase ,  Kraken  and  Bitfinex !

 

 

.Grapefruit Media

Grapefruit Media

 

Unique Meta Crypto Investing Platform

Unique Meta Crypto Investing Platform

 

PEER USDT CLUB

Peer Usdt

Create your free account here…

 

DF

df

Read more… 

Create your free account here…  

 

GOARBIT – WORLD INVESTMENT COMPANY

GOARBIT - WORLD INVESTMENT COMPANY

Read more… 

Create your free account here… 

 

SUPEREX – The most secure digital asset trading platform of the world!

SUPEREX Digital asset trading network

Read more… 

Create your free account here… 

 

SPIN2MONEY – Investing Platform

spin2money Investing Platform

Read more… 

Create your free account here… 

 

SMART PART TIME Investing Platform

 

Smart Part Time

Read more… 

Create your free account here… 

 

LIGA FIFA Betting Platform

Liga Fifa Betting Platform

fifa world cup Qatar 2022

Read more… 

Create your free account here… 

 

Ads by Cryptonews24

 

 

 

Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.

 

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.


TELEGRAM
Cryptonews24 Channel Chat