According to NewsPim, the South Korean government plans to form a new committee to oversee the digital asset market in the wake of the Terra collapse.
The digital assets committee is scheduled to be launched this month. It will provide exchanges with criteria for listing coins, impose investor protections and monitor unfair trading.
After Terra collapsed last month, demands were made in South Korea for a body to specifically oversee the digital asset industry and offer protections comparable to those afforded to investors in the stock market.
According to the government, some 240,000 South Koreans suffered serious financial losses because of the collapse of UST and LUNA.