The South Korean authorities will create an interim Digital Assets Committee after the collapse of the Terra ecosystem. This is reported by local media.
According to the publication, the new body will be formed from the existing Virtual Assets Ad Hoc Committee and will be launched in June. The structure will operate until a separate permanent agency is created.
As part of the work, the Committee will establish criteria for listing cryptocurrencies, protect investors, monitor the market and unfair trading practices, as well as other tasks.
Earlier it became known that in South Korea, an interdepartmental group consisting of prosecutors and financial regulators would investigate the collapse of Terra.
On May 24, the authorities held an emergency meeting in the National Assembly of South Korea. Li Changwoo, Vice President of the country’s Financial Supervisory Service, announced inspections of companies that provide Terra-related financial services.
Recall that at the end of May it became known that the Seoul Southern District Prosecutor’s Office sent subpoenas to employees of Terraform Labs.