The Seoul Southern District Prosecutor’s Office and the regulator for the Southern District of New York have agreed to exchange information regarding the Terra ecosystem collapse investigation, Yonhap reports.<\/p>\n
The agreement was reached during a meeting between South Korea’s Justice Minister Han Dong-hoon and representatives of the U.S. Attorney’s Office for the Southern District of New York, Andrea Griswold and Scott Hartman.<\/p>\n
The agency said the sides also discussed ways to broaden cooperation in financial crime investigations, including those related to the cryptocurrency industry.<\/p>\n
Following Terra’s collapse, South Korean financial regulators held an emergency meeting<\/a> to assess the incident’s consequences. According to local media, authorities began an investigation into Terraform Labs staff<\/a> as part of the investigation.<\/p>\n In June, it emerged that the people behind the UST stablecoin have attracted the attention of<\/a> the U.S. Securities and Exchange Commission.<\/p>\n Do Kwon, the head of Terraform Labs, called<\/a> the allegations against him “unfounded” and declined to comment on any investigations by law enforcement.<\/p>\n