South Korean justice minister Han Dong-hoon was in New York recently to discuss various ways in which the two nations can corporate on investigations associated with financial crimes, especially crypto-related crimes.
Korea and the US cooperate to investigate Tera-Luna
Han Dong-hoon, the justice minister for South Korea, recently visited New York to examine various ways that the two countries may cooperate on investigations into financial crimes, particularly those involving cryptocurrencies.
According to a local daily, the two sides talked about how to improve communication and cooperation to enable prompt response to the rising number of securities frauds connected to the market for digital assets. Regarding Terra-LUNA, a cryptocurrency project under examination in both nations, it is said that the two parties have agreed to share their most recent investigative data.
The $40 billion Terra ecosystem crash has attracted legal scrutiny from both countries. The U.S has recently opened a new investigation against Terra co-founder Do Kwon, while the South Korean prosecutors are looking into several charges including fraud, market manipulation and tax evasion.
The cooperation between the two nations could be the first of many as crypto-related crimes have become the focus of regulators in recent times. South Korea has emerged as one of the most strict nations when it comes to crypto regulations, ensuring strict know your customer (KYC) and anti-money laundering (AML) guidelines.
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