Do Kwon lawyers reportedly dismiss SEC‘s securities fraud allegation By Cointelegraph
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Lawyers representing Terraform Labs co-founder Do Kwon reportedly argued in court against the allegations of the United States Securities and Exchange Commission that Kwon defrauded U.S. investors by illegally offering unregistered securities.
On April 21, Kwon’s lawyers asked the judge to dismiss the SEC lawsuit, claiming that the regulator’s acquisitions were unfounded, according to a Bloomberg report. While requesting to dismiss the lawsuit, Kwon’s lawyers asserted that U.S. law prohibits regulators “from using federal securities law to assert jurisdiction over the digital assets in this case.”
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Lawyers representing Terraform Labs co-founder Do Kwon reportedly argued in court against the allegations of the United States Securities and Exchange Commission that Kwon defrauded U.S. investors by illegally offering unregistered securities.
On April 21, Kwon’s lawyers asked the judge to dismiss the SEC lawsuit, claiming that the regulator’s acquisitions were unfounded, according to a Bloomberg report. While requesting to dismiss the lawsuit, Kwon’s lawyers asserted that U.S. law prohibits regulators “from using federal securities law to assert jurisdiction over the digital assets in this case.”
Continue Reading on Coin Telegraph
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