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A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim Nam-kuk, … Read more
The information was published on WIPO’s global database for intellectual property on May 11, 18 months after LG filed its application. Go to Source Powered by WPeMatico
Lawyers said Do Kwon and Han Chang-joon could be released on bail and largely confined to a Montenegro apartment with the “obligation to periodically report to the state authority.” Go to Source Powered by WPeMatico
National Assembly member Kim Nam-kuk had authority in handling laws related to digital assets in South Korea, reportedly backing a bill proposing a 20% crypto gains tax be deferred. Go to Source Powered by WPeMatico
The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities. Go to Source Powered by WPeMatico
Legislators in South Korea passed a first phase review of proposed cryptocurrency regulations that include relatively harsh sentencing recommendations. Go to Source Powered by WPeMatico
Recent local reports have brought to light that Shin Hyun-seong, also known as Daniel Shin, co-founder of Terraform Labs, has been indicted by the Seoul Southern District Prosecutors’ Office on charges of fraud. Along with nine others, Shin is suspected of deceiving investors and accumulating around 460 billion won ($350M) before the Terra project ultimately … Read more
The indictment of 10 individuals associated with Terraform Labs, including co-founder Hyun-seong Shin, comes after 11 months of investigation into the collapse of Terra. Go to Source Powered by WPeMatico
Amidst the allegations against Do Kwon, the co-founder of Terraform Labs, a recent report by the Korean Sunday News has revealed that the Seoul Southern District Court has ruled in favor of LUNA, now renamed LUNC, by stating that it is not a financial investment product. Despite the recent enforcement action by the U.S. Securities … Read more
The court says that It is difficult to see the Luna token as a financial investment product regulated by the Capital Markets Act. Go to Source Powered by WPeMatico
