Paul Pierce will settle allegations that he failed to disclose payments to promote the cryptocurrency by paying $1.4 million in penalties and disgorgement.
SEC alleges that Terraform and its founder Kwon marketed crypto asset securities to investors looking to earn a profit, claiming that the tokens would increase in value
S.E.C. argues that by letting users hand over their crypto in exchange for a promised return, the exchange's staking service constituted a securities sale
After winning a hearing in November last year, the SEC hoped to obtain affirmation of an unclear injunction, but judges made it plain that the verdict only applied to direct sales.
In a lawsuit filed late on Thursday, the U.S. Securities and Exchange Commission (SEC) claimed cryptocurrency exchange Gemini and cryptocurrency lender Genesis Global Capital offered unregistered securities.