[이데일리 황병서 기자] As the aftermath of the collapse of the virtual (cryptocurrency) Luna and Terra USD (UST) continues, the top 5 domestic cryptocurrency exchanges are warning that people should be careful when investing in stablecoins or related coins. It is interpreted as part of a follow-up action following Chairman Koh Seung-beom’s previous statement that he would review the direction to guide cryptocurrency investors.
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According to the virtual asset industry on the 22nd, the Financial Services Commission, etc., in relation to the Luna incident, checked the trend of stable coins and recommended to actively inform the attention of stable coins through domestic exchanges. As the financial authorities do not have the legal authority to directly inspect or supervise the Luna incident, it is interpreted that this reflects the will of the financial authorities to prevent further damage through sufficient notice to consumers.
Previously, Koh Seung-beom, chairman of the Financial Services Commission, attended a plenary meeting of the National Assembly’s Political Affairs Committee on the 17th and asked about measures to protect investors and the size of investment losses in relation to the Luna incident. It is difficult to take separate measures because there is no applicable law,” he said.
A stablecoin is a virtual currency that maintains a stable price. It is designed to be linked to legal currencies such as the dollar. In the case of Terra, which has plummeted this time, its sister coin, not a dollar, corresponds to an ‘algorithmic stable coin’ that maintains its price through value linkage with Luna.
After announcing that they would review the directions given by the financial authorities, the top five domestic cryptocurrency exchanges posted warnings on their websites regarding investment risks. Upbit posted a notice on the 20th under the ‘Notice of Risks on Virtual Asset Transactions’, saying, “As revealed in the recent rapid price fluctuations of Luna, If there is a sudden change in the value of collateral or if the algorithm does not work properly, a sudden price change may occur.
Bithumb also posted a notice under the ‘Notice of Risks on Virtual Asset Transactions’, saying, “As virtual asset transactions can have a very high risk of loss, when trading virtual assets, members should consider their investment purpose, property situation, and trading experience, and Please make a transaction after fully understanding the precautions.”
Gopax also posted a notice on the ‘Risk Notice on Virtual Asset Transactions’, saying, “As virtual asset transactions can have a very high risk of loss, customers must provide information on their investment purpose, property situation, trading experience, etc., when trading virtual assets. Please take this into account and fully understand the following precautions before making a transaction.” In addition, Coinone and Korbit also announced similar information through the ‘Notice of Risks on Virtual Asset Transactions’.
Meanwhile, the party government is planning to hold a meeting related to the current situation on the 23rd and 24th. It is noteworthy whether separate guidelines regarding stable coins will be issued as a result of the party’s consultation.
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