2AE83F0B68E548E5C341B4CE54D27A66C20C47416AE3C628DEF6DC30C00D385F dDSqn7 South Korean Court Clears Former Terraform Labs CEO of Security Violations

South Korean Court Clears Former Terraform Labs CEO of Security Violations

A South Korean court dismissed charges of security violations against former Terraform Labs CEO Hyun-seong Shin, ruling that LUNA is not a security under the country’s Capital Markets Act. The court rejected the prosecution’s appeal for confiscation of Shin’s properties and arrest, and stated that Luna is not a financial investment product regulated by the act. However, the prosecution has appealed to the Supreme Court against the verdict of the lower district court. (Read More)

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