Cryptocurrency venture capital firm Hashed has appointed a former South Korean deputy finance minister to head the company’s new research institute.
Kim Yong-beom, Former Deputy Finance Minister of South Korea, Appointed CEO of Cryptocurrency Company Hashed Open Research
In a statement from the company, it was stated that Hashed Open Research will bring together Blockchain experts and the Korean government to promote mutual dialogue through seminars and research activities.
The newly hired Kim Yong-beom was noted to have confirmed this on his Facebook account this week.
Simon Seojoon Kim, CEO of the South Korean company, said in a statement that a new name has been added to the organization due to their fundraising plans for the first half of next year and more than $3 billion in losses from their Terra (LUNA) investment.
The Company Takes A Big Loss From The Terra Crash
The company had purchased 30 million LUNA tokens in the early days of the aforementioned Blockchain project, and these tokens were worth $3.6 billion when the price peaked in April.
In December, Hashed said the country was under investigation by the National Tax Service (NTS). There has been no public update on the case since then.
Kim was the deputy minister of economy and finance from August 2019 to March 2021, where he promoted the maintenance and taxation of cryptocurrency exchanges.
Prior to that, he served as vice chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), where he played a role in the regulator’s 2017 policy banning anonymous trading on local crypto exchanges.
The regulation also prohibited foreigners and minors from transacting through crypto accounts.
In his statement, Kim said the following on the subject:
“I thought my experiences could be useful for the vision and global expansion strategy of the young blockchain investor group.”
*Not investment advice.
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