Following the Terra $LUNA crash, South Korea takes steps to regulate the industry.
a remote meeting with other financial supervisory authorities from five countries in the Asia-Pacific region. This event was hosted by the Indonesian Financial Supervisory Service and included Australia, China, and Japan as well.
The meeting covered global market conditions as well as big tech and crypto. The Korean representative mentioned the need for cryptocurrency regulation, disciplinary action around virtual assets, and the expansion of financial regulatory frameworks. The incoming crypto committee in South Korea will steer policy recommendations and enforce investor protections ahead of the enactment of a Digital Asset Basic Act
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