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.
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.
The agency said the sides also discussed ways to broaden cooperation in financial crime investigations, including those related to the cryptocurrency industry.
Following Terra’s collapse, South Korean financial regulators held an emergency meeting to assess the incident’s consequences. According to local media, authorities began an investigation into Terraform Labs staff as part of the investigation.
In June, it emerged that the people behind the UST stablecoin have attracted the attention of the U.S. Securities and Exchange Commission.
Do Kwon, the head of Terraform Labs, called the allegations against him “unfounded” and declined to comment on any investigations by law enforcement.
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