The recent collapse of Terra LUNA has left a huge dent in the global cryptocurrency market. However, this fall has raised suspicions of fraud and manipulation among the regulator of different nations.
Korea-US officials talk over Terra data
As per reports, the Minister of Justice of South Korea Han Dong-hoon met U.S. prosecution officials. The meeting involved a discussion over cooperation in the investigation of financial crimes. This particularly noted crime is related to cryptocurrency.
Both officials discussed strengthening the cooperation in information exchange. Seoul Southern District Prosecutors Office and the Southern District of New York office agreed to work together in fighting against financial fraud and crimes.
In a big development, the agreement mentioned sharing the data of ongoing crypto related cases. This includes the recent high profile case of Terra USD and LUNA. The report mentioned that Korean prosecutors are investing in the possible fraud charges against TerraUSD and Luna.
However, the US SEC is already investigating Do Kwon over the marketing of its stablecoin TerraUST before its crash. It is looking into violations of investor protection regulations. While it also involves the charges of alleged money laundering activities.