Since the Terra (LUNA) ecosystem crisis, many explanations have been proposed. The enigma deepens with time. It’s difficult to tell true from untrue amid the crypto community’s assumptions. This event depressed global investors. South Korea and the U.S. have agreed to investigate this disaster together.
A strong team to combat crime
The Korean Minister of Justice, Han Dong-hoon, arrived in New York on a diplomatic mission focused on economic and security problems last Tuesday.
He spoke with officials from the US Attorney’s office during his visit. Among them are Scott Hartman and Andrea Griswold, co-directors of the Southern District of New York Securities and Commodities Fraud Task Force.
The main characters reportedly talked on how to improve ties between the Seoul and New York prosecutions, according to Korean media. All of this is done to lessen financial crime and stock market fraud.
The representatives of the two nations also talked about how they may cooperate to hasten and ease the investigation of illegal crimes involving cryptocurrency during this conversation.
Still receiving attention is Terra
Unsurprisingly, the controversial TerraUSD case was the first topic brought up during this session (UST). As a result, the two independent countries have decided to exchange information about this file.
Recall that Terraform Labs is currently the target of legal action from the American SEC. The purpose of the investigation was to determine if the marketing of UST and LUNA amounted to the selling of unregistered securities. In the meantime, class action lawsuits filed against TerraForm for alleged money laundering are being evaluated by South Korean courts.
The entire cryptocurrency market has been adversely affected by the collapse of Terra tokens. The regulatory authorities have been stricter with regard to this industry as a result of this phenomenon. There is already a zero-tolerance policy in place in South Korea for breaking the law. Additionally, a new chapter in its relationship with the United States has begun. But how this story turns out will only become clear with time.
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