in early May terra stablecoin of your network TerraUSD (UST) native cryptocurrency LUNA There was a sharp collapse in the cryptocurrency market, which shocked the cryptocurrency market.
Apart from investors, all cryptocurrencies were also affected by this collapse, and sharp decreases were experienced.
After the collapse, prosecutors and related institutions took action in South Korea. Terra-LUNA launched investigations into fraud and tax evasion charges.
As these investigations continue, South Korean prosecutors have launched a new investigation, according to local news outlet Korea Herald.
As part of the new investigation, prosecutors tokens of the Terra network LUNA and LUNC with stablecoin UST (now USTC) looking for securities.
The Seoul Southern District Procuratorate’s Financial and Securities Crimes Investigation Team made the following statements in a statement:
“The investigation team met with experts from cryptocurrency exchanges and financial regulators to examine whether the Terra network tokens could be categorized as securities.”
If it is decided that it is a security at the end of the investigation TerraForm Labs, founder Do Kwon and its other affiliates will be charged with violating the Capital Markets Law.
US Securities and Exchange Commission (SEC) de LUNA developer Terraform Labs is investigating.
Terra’s decentralized finance platform Mirror Protocol was not registered in the US, so the SEC has launched an investigation into the platform’s sale of UST.
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