Terraform Labs vs. SEC Civil Battle Proceeds Despite Do Kwon's Absence
The civil battle between Terraform Labs and the SEC proceeds without Do Kwon, with the trial focusing on fraud allegations.

The civil battle between Terraform Labs and the SEC proceeds without Do Kwon, with the trial focusing on fraud allegations.
Judge Rakoff's rulings present a complex scenario for Terraform Labs, with both favorable and adverse outcomes in their legal battle with the SEC.
Legal counsel representing Do Kwon has petitioned a federal court to dismiss the US SEC’s plea to interrogate him on American soil regarding the Terra Money ecosystem's collapse.
SEC lawyers previewed a likely appeal to overturn portions of last week’s Ripple Labs in a separate enforcement case against TerraUSD and Luna creators Do Kwon and Terraform Labs.
He also asserted that the person he was caught with was innocent.
Terraform Labs’ co-founder Do Kwon’s lawyers are arguing that the United States SEC has violated the law with its actions against the company.
Terraform Labs is headquartered and registered in Singapore and this is the first time the country has publicly taken action against Do Kwon and his firm.
The U.S. SEC on Thursday charged Do Kwon with securities fraud involving its algorithmic stablecoin Terra USD and the LUNA token.
U.S. regulators are investigating whether Terraform used its Mirror protocol to sell unregistered securities in a case unrelated to Terra's debacle.
The U.S. regulator is investigating whether Terraform used its Mirror Protocol to sell unregistered securities in a case unrelated to the Terra collapse.