Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Terraform Labs asks a judge to have a jury decide whether UST and LUNA tokens are securities.
ADOPTION NEWS

Terraform Labs asks a judge to have a jury decide whether UST and LUNA tokens are securities.

By Crypto FlexsDecember 6, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Terraform Labs asks a judge to have a jury decide whether UST and LUNA tokens are securities.
Share
Facebook Twitter LinkedIn Pinterest Email

Terraform Labs, creator of the failed Terra stablecoin (UST) Luna

-7.30%
The cryptocurrency asked a New York judge to have a jury decide the token’s regulatory status. On the other hand, the Securities and Exchange Commission argues that this issue should be decided by a judge.

SEC be sued Terraform Labs and co-founder Kwon Do claimed in February that he raised billions of dollars from investors “by offering and selling interconnected crypto-asset securities, much of it through unregistered transactions.”

David Kornblau, an attorney for Terraform Labs, said in a letter to Jed Rakoff on Monday that a jury must decide “whether the SEC has met its burden of proving” that the UST, LUNA wLUNA and MIR tokens are securities. The letter follows one filed by the SEC asserting that juries rarely decide whether something is an investment contract or not.

Whether cryptocurrencies should be considered securities is the subject of several legal battles between the SEC and cryptocurrency companies. If a token meets the definition of an investment contract, typically using the so-called Howey test, the issuer must register with the SEC and disclose certain information to investors.

summary judgment

Formerly Terraform Labs asked The judge will grant summary judgment in favor of the defendant instead of sending the case to a full trial. However, if the judge decides not to grant summary judgment, Terraform Labs is requesting that the matter be submitted to a jury.

The company pointed to past examples. Ode vs. mane, a 2021 case in which a jury decided that four cryptocurrencies were not securities. In response, the SEC argues that this was the only case in which a jury was asked to determine whether something was an investment contract or not. The agency also claims there is “no real dispute” that Terraform Labs sold securities.

Kwon Do be arrested Last March, he was accused of using a fake passport in Montenegro. District court at the end of November Approved his guidance.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto Exchange Rollish is expanded to 20 by NY approved.

October 2, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025
Add A Comment

Comments are closed.

Recent Posts

Pepeto Advances Presale With Staking Rewards And Live Exchange Demo

October 11, 2025

Foundry vs Echidna vs Wake: Fuzz Reduction Comparison

October 11, 2025

Phemex Launches Market Confidence Campaign To Support Traders Through Volatility

October 11, 2025

How SJMine Transforms Daily Crypto News Into Passive Profits

October 11, 2025

Ethereum price plunge creates opportunity for 13% rebound

October 11, 2025

Eightco Holdings Inc. ($ORBS) Expands Its Strategic Vision Into The Enterprise

October 10, 2025

Whale.io Launches Battlepass Season 3, Featuring $77,000 In Crypto Casino Rewards

October 10, 2025

Strengthening the AI ​​Agent Economy

October 10, 2025

‘OG’ Whale Attracts Over $400 Million in Bearish BTC Bet

October 10, 2025

Rhuna Raises $2M Seed Round Led by Aptos Labs to Build Stablecoin Payment Infrastructure for Entertainment

October 10, 2025

Mobile App Change Log 7.17.0

October 9, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Pepeto Advances Presale With Staking Rewards And Live Exchange Demo

October 11, 2025

Foundry vs Echidna vs Wake: Fuzz Reduction Comparison

October 11, 2025

Phemex Launches Market Confidence Campaign To Support Traders Through Volatility

October 11, 2025
Most Popular

Binance Launches New ‘Make Money Wednesday’ Promotion with Exclusive Offers

November 6, 2024

Milei Moneda is aiming for a 10-fold increase. Analysts are bullish on BCH and SOL.

April 13, 2024

Democratic Party urges reexamination of spot Bitcoin ETF

May 8, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.