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South Korean politician calls for hearing on Terra crisis

Yun Chang-Hyun, a representative from South Korea’s ruling People Power Party, has called for a parliamentary hearing on TerraUSD (UST) after the stablecoin’s sudden collapse last week, local news outlet Newspim reported on Tuesday. “We should bring related exchange officials, including CEO Do Kwon of Terra, which has become a recent problem, to the National Assembly to hold a hearing on the cause of the situation and measures to protect investors,” Chang-Hyun reportedly said today at a plenary meeting of the …

Senate banking committee to hold hearing on stablecoins

The U.S. Senate’s Banking, Housing and Urban Affairs Committee will hold a hearing next week focused on the use of stablecoins. “Stablecoins: How do they work, how are they used, and what are their risks?” will take place on Tuesday, Dec. 14 at 10:00 a.m. EST. The session will convene in Dirksen Senate Office Building 538 and will also be streamed on the senate’s website.  Alexis Goldstein, Director of Financial Policy at the Open Markets Institute and Professor Hilary J. …