The South Korean government is considering imposing tougher regulations, including a unified listing standard, on all cryptocurrency exchanges in the country following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST).
Korean Government’s Meeting With Cryptocurrency Exchanges
The South Korean government is shifting responsibility for the crash of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST) onto crypto exchanges, the Korea Times reported Thursday.
The Korean National Assembly and the government held an emergency meeting with the heads of major crypto exchanges in the country Tuesday to discuss measures to prevent the recurrence of the LUNA and UST implosion. However, the lawmakers and financial authorities appeared to support the imposition of tougher regulations on crypto exchanges, the publication conveyed.
The Korean government has criticized crypto exchanges for their delayed response to the collapse of the two cryptocurrencies....
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