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” Legal troubles mount for Terraform Labs as Seoul police investigative “ Terraform Labs, the parent company behind the collapsed Terra ecosystem, is currently under multiple investigations from the South Korean authorities. The latest investigation revolves around the alleged embezzlement of Bitcoin (BTC) from the company’s treasury. According to a report published in a local…
“South Korea office building fire leaved 7 dead, dozens injured” An office building fire in South Korea left at least seven people dead and injured 35 others on Thursday, officials said. The blaze broke out on the second-floor of an office building behind the district court in the city of Daegu, according to Shin Ju-han,…
” Anchor dev claims he warned Do Kwon over unsustainable 20% interest rate “ Anchor protocol was originally designed to offer an interest rate of 3.6% but this was dialed up to 20% just a week before release to attract more investors, a core developer alleged in an interview with Korean media outlet JTBC. “I…
” Bitcoin bears have plenty of reasons to hold BTC price below $32,000 “ Since May 10, the Bitcoin (BTC) chart shows a relatively tight range of price movement and the cryptocurrency has failed to break the $32,000 resistance on multiple occasions. BTC-USD 12-hour price at Coinbase. Source: TradingView The choppy trading partially reflects the…
” Major South Korean crypto exchanges delist Litecoin “ Major cryptocurrency exchanges in South Korea have delisted Litecoin (LTC) weeks after flagging its privacy-focused MimbleWimble (MWEB) upgrade. In a public announcement on Wednesday, Upbit cited the Act on the Reporting and Use of Specific Financial Transaction Information, which prohibits anonymous transactions as the key reason…
” Law Decoded, May 30–June 6: Terra’s aftermath in China, Japan and South Korea “ The “long waves” of TerraUSD’s May 7 collapse, which we noted two newsletters ago, are extending even further. Last week brought some notable reactions to the stablecoin’s depegging in the East Asia region. A Chinese state-owned media outlet, the Economic…
“US official vows ‘forceful response’ if North Korea tests nukes” U.S. Deputy Secretary of State Wendy Sherman on Tuesday warned of a forceful response if North Korea carries out its first nuclear test explosion in nearly five years as she traveled to Seoul to meet with South Korean and Japanese allies and discuss the escalating…
“North Korea launches 8 ballistic missiles – nuke may be next” North Korea launched eight ballistic missiles toward the sea Sunday as dictator Kim Jong Un tries to establish the country as a global military force with nuclear capabilities. The North fired off the missiles over 35 minutes near the capital of Pyongyang, South Korea’s…
” South Korea ramps up crypto investigations and regulations “ On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions. As reported…
” South Korean government becomes an early investor in metaverse “ South Korea, a nation known for its strict crypto regulatory stance, is betting big on the metaverse. The government will invest over 223.7 billion won ($177.1 million) directly in various metaverse projects. The decision to invest in the nascent metaverse tech makes South Korea…