The entire cryptocurrency market TerraUSD (UST) and Terra (LUNA) Talking about your downfall South Korea government is investigating the LUNA collapse.
In this context country’s local news source Newspim’s The South Korean government will hold an emergency meeting on Tuesday with representatives of the country’s five largest cryptocurrency exchanges regarding the LUNA collapse, according to a report published today.
Among these exchanges, the country’s largest cryptocurrency exchanges Upbit, Bithumb, Coinone, Korbit and Gopax exists.
The report stated that government officials will hold the exchanges responsible for some of the Terra collapse and some of the losses suffered by investors.
The report also stated that it is expected that exchanges will be held responsible for not applying adequate investor protection and failing to prevent their customers from being harmed during the collapse of LUNA.
Yoon Chang-Hyeon, a government official and chair of parliament’s private virtual assets committee, said in a Facebook post Monday. “We will check the investor protection measures of the exchanges” said.
Apart from this emergency meeting of the South Korean government, the country’s financial regulators, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) are investigating the Terra collapse.