South Korea to Create a Digital Assets Committee
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2 June

The South Korean authorities have just announced they intend to create an interim Digital Assets Committee following the collapse of the Terra ecosystem, according to local media.

According to them, the new body, which will be in place until a permanent independent agency is created, will be created from the existing Ad Hoc Committee for Virtual Assets and will be launched this month.

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The committee's tasks will include setting criteria for crypto listing, protecting investors, monitoring the market and unfair trading practices.

It has recently become known a South Korean interdepartmental group composed of prosecutors and financial regulators is to conduct an investigation into the collapse of Terra.

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On May 24, the country's authorities held an emergency meeting at the South Korean National Assembly at which inspections of companies providing financial services related to Terra were announced.

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