The latest cross-border partnership will focus on probing crypto and other financial crimes.
In the aftermath of Terra’s historic debacle, regulatory scrutiny targetting the stablecoin industry through cooperative measures across borders has become urgent to authorities worldwide. According to a recent report, South Korean Justice Minister Han Dong-hoon has discussed with US officials potentially enhancing cooperation in fighting against security fraud and financial crimes.
The partnership aims to strengthen information exchange across borders, doubling down investigative efforts on crypto and other financial crimes. In particular, Terra – the project being probed in both countries – is under the spotlight again: “The two sides also agreed to share their latest investigation data on ongoing crypto cases, including the high-profile case surrounding the meltdown of stablecoin TerraUSD and its digital coin counterpart, Luna.”an investigation on the team, looking into possible fraud charges and market manipulation. Reportedly, a key member of the group was even banned from leaving the country.its scope of investigation on the Terra-based DeFi platform Mirror Protocol.
This came in the wake of crypto firms falling apart largely due to overly leveraging their existing assets during the bull market. As the bear market hits the industry, some have to fileSPECIAL OFFER
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