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Terra (LUNA) employees are reportedly unable to leave South Korea as the country's prosecutors imposed a departure ban on key developers of the project.Korean media outlet JTBC reported on Monday that an investigation team from Seoul Southern District Prosecutor's Office has imposed a travel ban on key team members of
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Korea's leading exchanges have agreed to form a new emergency system that will spring into action within 24 hours should another Terra-style collapse threaten to come to pass.Under the new system, exchanges will convene to respond to sudden adverse market effects, such as what happened with Terra in May.The agreement
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The executive power and the ruling party in South Korea have urged the cryptocurrency industry for what officials describe as voluntary regulatory measures, a Korean media report revealed. The call was issued during a consultative meeting devoted to crypto assets. Government Asks South Korean Crypto Sector for Regulatory Proposals Representatives of the
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Five South Korean cryptocurrency exchanges said they intend to create a consultative organization which will help prevent a repeat of a Terra LUNA-style token collapse. The organization is expected to achieve its objectives by applying standards that are endorsed by the crypto exchanges. Screening Guidelines Five of South Korea’s leading domestic
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Five South Korean cryptocurrency exchanges recently said they will delist litecoin because the crypto asset’s Mimblewimble Extension Blocks (MWEB) upgrade violates the country’s laws. As a result, the exchanges’ users cannot use the Korean won to trade the crypto asset, which has since been named a “dark coin.” Upgrade Violates Specific
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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 for ending support for LTC.
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The fund, created by Solana Ventures and the Solana Foundation, will focus on virtual gaming, and will invest in NFT and DeFi projects. Original Source
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Even though the Metaverse is still a developing ecosystem and its scope is sketchy, the South Korean government has backed the movement by being an early investor. This gesture from the South Korean government can trigger other countries to invest in this technology, which has the potential to be the
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The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna Classic (LUNC), previously known as Terra (LUNA), and TerraUSD (UST) tokens, by reportedly summoning subpoenas to employees.South Korean authorities have reportedly summoned all employees at Terraform Labs as part of a
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