South Korean exchanges have declined to list Terra 2.0 after the crash, according to local media outlets.
According to local media reports, Do Kwon, the founder of Terraform Labs, approached South Korean exchanges like Upbit, Coinone, Cobit, Bithumb, and Gopax, the top five exchanges in the country, to list Terra 2.0.
Four of the four exchanges that do not agree with Do Kwon's proposal, apart from the exchange Upbit, have declined the proposal, according to a report by Heraldcorp.
The exchanges told reporters from Heraldcorp that due to the ongoing investigation by South Korean authorities on Terraform Labs, the exchanges are hesitant to list their native token.
Only one exchange will list a token.
The company spokeswoman to South Korean reporters said that Upbit is willing to list the new Terra token.
South Korean officials are investigating Terraform Labs, the parent company of the cryptocurrencies Terra Luna and TerraUSD, after the historic Terra Luna crash.
The justice minister of South Korea, Han Dong-Joon, is directly involved in the inquiry, according to local media.
After more than two years of dormancy, a unique combined financial and securities criminal investigation unit named Yeouido Grim Reaper has been reactivated.
In addition to the arduous investigation, Terraform Labs faces a 100 billion Won $78,5 million penalty for tax evasion in South Korea.
Other exchanges to the rescue were also to the rescue.
Binance, FTX, Huobi, Bitrue, and others have agreed to support the revival of the criptocurrency token.