Breaking: SEC sues Do Kwon and Terraform Labs for fraud By Cointelegraph
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The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Terraform Labs and its founder Do Kwon for allegedly “orchestrating a multi-billion dollar crypto asset securities fraud.”
In a Feb. 16 statement, the SEC said Kwon and Terraform offered and sold an “inter-connected suite of crypto asset securities, many in unregistered transactions.” It pointed to its now collapsed algorithmic stablecoin, TerraClassicUSD (USTC) and its connected cryptocurrency Luna Classic (LUNC).
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The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Terraform Labs and its founder Do Kwon for allegedly “orchestrating a multi-billion dollar crypto asset securities fraud.”
In a Feb. 16 statement, the SEC said Kwon and Terraform offered and sold an “inter-connected suite of crypto asset securities, many in unregistered transactions.” It pointed to its now collapsed algorithmic stablecoin, TerraClassicUSD (USTC) and its connected cryptocurrency Luna Classic (LUNC).
Continue Reading on Coin Telegraph
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