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South Korean Prosecutors Investigate New Allegations Against Terra

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Sep 13, 2022

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Prosecutors have started investigating just how genuine are the securities being offered by TerraForm Labs. Currently, Terra and its executives are under scrutiny for fraud and tax evasion allegations. The Investigation Team met with the experts to find out if the Terra tokens, i.e., LUNA, LUNC, and UST (now USTC), are actually securities or not. If they are not, Do Kwon, the founder, and CEO, and other affiliates will be charged with violating the Capital Market Act for fraud and tax evasion. The decision of the prosecutors will further help in regulating the crypto market. Similar to this, the Mirror Protocol, a decentralized finance platform of Terra, is also under investigation for selling mirrored assets of the US stocks in UST.

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