Five South Korean cryptocurrency exchanges said they intend to create a consultative organization which will help prevent a repeat of a Terra LUNA-style token collapse. The organization is expected to achieve its objectives by applying standards that are endorsed by the crypto exchanges.
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Five of South Korea’s leading domestic cryptocurrency exchanges have said they plan to create a consultative body whose mandate is to prevent the recurrence of a token collapse similar to that of the first iteration of Terra’s LUNA. The consultative body will achieve this by applying agreed upon standards, the exchanges said.
According to a Yonhap News report, this plan by the exchanges was revealed at the party-government meeting held at the National Assembly recently.
The decision by the five exchanges, namely Upbit, Bithumb, Coinone, Korbit, and Gopax, comes just a few weeks after they were criticized for their seeming indifference to the collapse of the former terra (LUNA)...
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