Do Kwon, the creator of the stablecoin TerraUSD (UST) and its sister token Luna, is facing legal prosecution in South Korea over the collapse of the two coins that wiped out billions of dollars from investors around the world earlier this month. The Seoul Southern District Prosecutors’ Office said Friday that it has kicked off […]
Terraform Labs co-founder Do Kwon has proposed a plan to rescue the Terra blockchain. It involves forking a new chain without the stablecoin TerraUSD (UST) as he feels the Terra ecosystem is worth more than UST.
The post Terra Founder Plans Fork to Rescue Blockchain; Community Set to Vote appeared first on BeInCrypto.
Amid the ongoing Terra debacle, founder Do Kwon has now reportedly come under further scrutiny from the South Korean government for alleged tax evasion. South Korea’s Tax Service is charging Kwon and Terraform Labs with over 100 Billion Won ($78.4 Mill…
South Korea’s National Assembly and the government are reportedly considering stricter crypto legislation following an emergency probe into the Terra market collapse.
The post Terra Market Collapse and Tax Liabilities Could Force South Korea to Rethink Regulations appeared first on BeInCrypto.
After the abrupt crash of Terra’s UST last week, a popular South Korea-based law firm, LKB & Partners, is set to sue Do Kwon on behalf of South Koreans who invested in the asset, according to local media reports. The law firm is applying to the Seoul Metropolitan Police Agency to seize all Do Kwon’s […]
The post Terra faces litigation from South Korean investors over failed UST investment appeared first on CryptoSlate.