Holpop News

Yoon Chang-hyun of the ruling People’s Power Party in South Korea has called for a parliamentary hearing on TerraUSD (UST).
“We should invite relevant officials, exchange representatives, including Terra CEO Do Kwon, to hold a hearing on the cause of this situation and measures to protect investors,” he said.
The official also pointed out that a number of exchanges continued to trade UST Stablecoin after it collapsed.
“Coinone, Korbit and Gopax stopped trading on May 10, Bithumb stopped trading on May 11, and Upbit only stopped trading on May 13. Upbit, which was the last to stop trading, made about 10 billion won ($7.8 million) in just three days on commissions,” he added.
In addition, Korean publication Yonhap reported that local financial regulators have launched “emergency inspections” of local cryptocurrency exchanges to increase investor protection after the UST collapse.
The Financial Services Commission and the Financial Supervisory Service asked exchanges for information on LUNA and UST transactions, including trading volumes, prices and the number of investors.