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South Korean Crypto Exchanges Form Joint Response Council to Avoid Repeat of LUNA ‘Incident’

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South Korea’s five biggest crypto exchanges have vowed to create a “joint response council” to avoid a repeat of what the media and politicians in the country have labeled the “terra (LUNA) incident.”As reported, the five exchanges – Upbit, Bithumb, Coinone, Korbit, and Gopax – have all faced criticism in recent days due to their lack of a coordinated response to the recent price crash.

While some chose to delist LUNA shortly after the crash, others continued trading the token – with some only making their final delisting announcements late last week.This led to a flurry of speculative trading on Terra ecosystem coins, and some opportunistic “kimchi premium” trading as a result of inflated prices on domestic platforms.

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