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Terra co-founder refuses to testify before South Korean parliament

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Terra co-founder refuses to testify before South Korean parliament

Daniel Shin, co-founder of Terra ecosystem developer Terraform Labs, will not testify before the South Korean parliament. About it informs Korean edition of News1.

In an explanatory note, Shin said that his public appearance before Parliament could interfere with the prosecutor’s ongoing investigation into the collapse of Terra. Earlier, the South Korean parliament summoned Shin to testify before the Financial Services Commission. As the newspaper writes, the authorities have not yet decided whether Sheen should be allowed not to testify before the commission.

If Shin is excused from testifying, the only witness in the case of the collapse of Terra will be Kim Ji Yoon, CEO of South Korean blockchain infrastructure provider DSRV Labs.

Earlier, representatives of Terraform Labs reported in a letter to The Wall Street Journal that the Korean prosecutor’s office could have exceeded its powers in pursuit of the founder of the Terra ecosystem, Do Kwon. According to Terraform Labs, the altcoin terra (LUNA) has never been a security, which means that the project did not fall under the laws of South Korea in any way. Representatives of the firm believe that the entire process against Terraform Labs is “extremely politicized.”

Earlier, the South Korean prosecutor’s office reported that Interpol issued a “red notice” to Do Kwon. This is the most stringent document in the Interpol system, it is issued only to those who have committed a serious crime.

South Korea has issued an arrest warrant for Kwon, saying the founder of the controversial ecosystem is on the run. A few days later, Kwon denied this information, but the prosecutor’s office claims the opposite. In a commentary to the Korean Yonhap News Agency, the Seoul prosecutor’s office said that the founder of Terra is “obviously on the run” and is not cooperating with the investigation.

Law enforcement sources in South Korea note that Kwon made it clear back in August through his legal representatives that he did not intend to cooperate with the prosecutor’s office and testify.

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Source: Cryptocurrency

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