Judge considers Terraform Labs’ LUNA and MIR as securities
Traduzione effettuata da Deepl pro
## Terraform Labs and SEC agree on confidentiality terms as trial approaches
In February, the SEC sued Terraform Labs and Do Kwon, alleging they raised billions of dollars from investors by selling them securities under the guise of cryptocurrencies. In a lawsuit filed in the Southern District of New York, the regulator claimed that Terraform sold investors securities under the guise of crypto assets, promising that the tokens would increase in value. Beginning in April 2018, Kwon raised billions of dollars from investors by selling them Terraform-issued cryptocurrencies and various other digital assets, many of which were unregistered securities, the SEC alleges. The lawsuit says Kwon misled investors about the stability of UST and claimed that his company’s tokens would increase in value. Do Kwon is now awaiting a court decision in Montenegro. At the beginning of December 2023, information appeared that Montenegro was planning to extradite Do Kwon to the United States. That decision however still needs to be confirmed by a Montenegrin court, which overturned a decision to extradite Kwon on Dec. 19. Source : crypto.news by Anna Kharton / Dec 29, 2023