Terraform Labs seeks to dismiss class action arguing US laws don’t apply
Federal securities laws only apply in the United States, but the protocols were developed overseas, argues Terraform Labs. Go to Source Powered by WPeMatico
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European Union pushes forward with first AI framework: Law Decoded, April 24–May 1
High-risk tools will not be banned entirely, though they will be subjected to stricter transparency procedures. Go to Source Powered by WPeMatico
Terraform Labs co-founder and nine others indicted in South Korea
The indictment of 10 individuals associated with Terraform Labs, including co-founder Hyun-seong Shin, comes after 11 months of investigation into the collapse of Terra. Go to Source Powered by WPeMatico
South Korean Court Rules Terra Crypto Asset LUNC Is Not a Security
Amidst the allegations against Do Kwon, the co-founder of Terraform Labs, a recent report by the Korean Sunday News has revealed that the Seoul Southern District Court has ruled in favor of LUNA, now renamed LUNC, by stating that it is not a financial investment product. Despite the recent enforcement action by the U.S. Securities … Read more
LUNA is not a security, South Korean court rules in Terra co-founder’s case
The court says that It is difficult to see the Luna token as a financial investment product regulated by the Capital Markets Act. Go to Source Powered by WPeMatico
Do Kwon lawyers reportedly dismiss SEC’s securities fraud allegation
Kwon’s lawyers claimed that the SEC failed to prove the alleged defrauding of US investors in connection with Terra’s $40 billion collapse of TerraUSD (UST) and Luna (LUNA). Go to Source Powered by WPeMatico
Terra co-founder Do Kwon reportedly indicted for document forgery
While Terraforms’ Do Kwon and Han Chang-jun are facing charges in Montenegro, the other co-founder, Shin Hyun-seung, still walks free in South Korea. Go to Source Powered by WPeMatico
Do Kwon lawyers received $7 million before Terra collapse: Report
While trying to tie in Kwon’s ill intent in prepaying the law firm, prosecutors believe that the information will help in the ongoing fraud case. Go to Source Powered by WPeMatico
Terra DeFi project Terraport suffers $2M hack days after launch
Terra users are losing another round of funds due to a breach on the new DeFi platform Terraport Finance, which launched on March 31. Go to Source Powered by WPeMatico
Do Kwon converted stolen funds from Luna to Bitcoin: S.Korean prosecutors
South Korean prosecutors have reached out to Binance to request a halt on any withdrawal linked to Do Kwon. Go to Source Powered by WPeMatico
