Numerous leading South Korean crypto industry leaders unsuccessful to appear to some parliamentary hearing yesterday – such as the Co-founding father of the under-fire Terra Luna Classic (LUNC) issuer Terraform Labs Daniel Shin, in addition to shareholders from the crypto exchange Bithumb.
The executives have been called to manage questions before MPs in a meeting from the National Set up Political Matters Committee, with auditors in the regulatory Financial Services Commission (FSC) and also the Financial Supervisory Service (FSS) and in attendance.
MPs had called Shin, in addition to Lee Jong-hoon, a significant Bithumb shareholder and – until lately – the crypto exchange’s Chief executive officer, Kukinews and Seoul Finance reported.
The surface of the agenda in the hearing was the Terra ecosystem crash of early May. MPs also desired to question the officials concerning the “complex” management structure of Bithumb, among the nation’s greatest crypto exchanges.
Lawmakers had also requested the existence of Kang Jong-hyun, the mysterious figure regarded as the “shadow chairman” and largest shareholder of Bithumb. The second continues to be the topic of mounting media scrutiny recently – after it had been learned that he seems to possess hired his celebrity actress’ sister like a director of among the companies he owns.
Media outlets also have alleged that Kang has registered the majority of his business interests in the more youthful sister’s name and the man has gangland connections.
Simon Kim, the Chief executive officer from the blockchain accelerator Hashed, seemed to be called.
But Lee, Shin, Kang, and Kim all unsuccessful to show to the meeting, with many submitting letters explaining their absence and citing “mental” issues his or her excuse for non-attendance.
Will Executives Have the ability to Dodge MPs Again?
MPs have the symptoms of taken care of immediately no-shows with scorn – and issued the executives with “accompanied attendance demands.” These legally binding demands dispatch bailiffs who oblige recipients to accompany them to a different hearing.
Non-compliance with your orders is punishable having a maximum penalty of 5 years in prison.
