Terra’s 'vortex of death' brings scrutiny from South Korean regulators

Quick Take

  • The National Assembly in South Korea held a meeting on Tuesday to discuss the fallout from the Terra collapse, while representatives from domestic crypto companies were also present.

South Korea’s financial regulators came together on Tuesday to discuss how to address fallout from this month’s collapse of the TerraUSD stablecoin. 

The Financial Supervisory Service (FSS), the Fair Trade Commission (FTC) and the Financial Service Commission (FSC) shared updates following an emergency meeting held at the National Assembly, according to local news reports.