Key Takeaways In a significant development, the United States Securities and Exchange Commission (SEC) has received approval to seek South Korea’s assistance in its ongoing legal case against Terraform Labs and its co-founders. The motion enables the SEC to conduct…
A federal judge rejected Terraform Labs' request to dismiss the SEC's lawsuit against it.
Swiss authorities seized $26 million in crypto connected to Terraform Labs and Do Kwon.
Do Kwon was found guilty of using a fake passport by a court in Montenegro and given a four-month prison term.
Terraform Labs co-founder Do Kwon has been granted bail in Montenegro following the dismissal of an appeals process by prosecutors.
According to court documents from the U.S. SEC, Jump Trading and Do Kwon made a covert agreement in 2021.
In addition to bail, the court imposed a measure prohibiting Do KwON from leaving his residence, which the court considers to substitute for imprisonment to a significant extent
The court stated that it is difficult to view Luna Coin as a financial investment product regulated by the Capital Markets Act.
The Securities and Exchange Commission was granted permission by a US judge to search Singapore for Terraform Labs and founder Do Kwon-related records.
Reportedly, Kim & Chang's lawyers also visited Montenegro to meet with Kwon and Terraform’s former chief financial officer, Han Chang-joon.