Posted 12/28/2023, 11:49:05 PM
Terraform Stablecoins Ruled Unregistered Securities in Major SEC Win
- Judge rules Terraform's LUNA and UST are unregistered securities in major SEC victory
- Summary judgment granted on claims they offered securities and security-based swaps
- Jury will now only determine if Kwon misled investors on UST's $1 peg stability
- UST stablecoin collapse in May 2022 wiped out $60B, sparking ongoing crypto winter
- Kwon faces charges in US, South Korea and Montenegro, extradition appeal underway