Daily Flash | South Korea will severely punish insider traders and manipulators；More than 90% of Terra community members oppose the reconstruction plan

Today's Topic - South Korea may propose a cryptocurrency fair trading bill to severely punish insider traders and manipulators

On May 18, according to the Korea Economic Daily, South Korea may propose a bill to punish those who make unfair profits from cryptocurrency trading by raising currency prices, insider trading or false orders. The Korea Financial Services Commission (FSC) prepared the research report after the South Korean parliament asked to study the regulation on cryptocurrency.

The regulations proposed by the FSC will be more stringent than the capital market regulation. According to the proposal, those who improperly obtain benefits will be subject to civil and administrative penalties such as fines and compensation liabilities, as well as criminal penalties such as imprisonment. It is reported that the South Korean parliament and government will discuss the details in the legislative process.

Today's Chart - More than 90% of Terra community members oppose the reconstruction plan V2

According to the current voting results of reconstruction plan V2, as of the time of publishing, 5190 people in the Terra community have participated in the voting on "Terra ecosystem revival plan 2" proposed by Do Kwon, of which 92% of the members oppose the plan.

Previously, according to the Terra community website, Do Kwon proposed a new "Terra revival plan". It is suggested that the Terra chain be forked into a new chain of Terra Classic and non-algorithmic stablecoin.

Do you agree or disagree with it?

Today's Influencer - Musk: there are too many spam accounts on Twitter to promote the acquisition

On May 17, Musk tweeted: "there are 20% of fake or spam accounts on Twitter, four times its claim, and maybe even higher. My quotation is based on the accurate documents submitted by Twitter to the SEC. Yesterday, the CEO of Twitter publicly refused to provide evidence that such accounts make less than 5% of the total. The transaction cannot proceed unless Twitter proves that the false / spam accounts are less than 5%. "

Previously, Twitter announced its acceptance of Musk's $44 billion acquisition proposal in April, and the transaction is expected to be completed this year.

Yesterday, the CEO of Twitter said that he had roughly described the spam capture process with Musk, but it was impossible to conduct an external evaluation of the spam accounts. The company's internal estimation of the proportion of spam accounts in the past four quarters was "far less than 5%". Musk said it was not impossible to buy Twitter at a lower price.

Some analysts believe that Musk's Twitter acquisition is good for the crypto space and bad for Tesla. Do you agree with this view?

Hot events yesterday - #DOGE founders said 95% of cryptocurrencies were "scams and garbage"; #Plan B said that Bitcoin has formed a bottom space and will turn into a bull#

Dogecoin's co-founder said 95% of cryptocurrencies were "scams and garbage"

Portugal may soon tax the proceeds of cryptocurrency

Musk: there are too many spam accounts on Twitter to promote the acquisition

Do Kwon releases LUNA's revival plan 2.0

Plan B: now we are creating a bottom, and then there will be a new bull market

Author: Gate.io Researcher Byron B. Translator: Joy Z.
* This article represents only the views of the researcher and does not constitute any investment advice.*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.