– The price of the SUI token has dropped by over 9% following allegations of supply manipulation by South Korean regulators.
– The Sui Foundation, the organization behind Sui, has denied the allegations and called them “unfounded and materially false.”
– South Korean news outlets reported that the country’s Financial Supervisory Service will launch an investigation into the distribution of the SUI token.
– Representative Min Byeong-deok accused the Sui Foundation of staking coins that should have remained in the non-circulating supply and lying about the amount in circulation.
– South Korean lawmakers are increasing their efforts to regulate crypto activity in the country, with new legislation expected in January 2023.