Do Kwon, CEO of Terraform Labs, has requested the dismissal of charges filed by the SEC, arguing that the claims are invalid and that the agency lacked proper jurisdiction. Kwon’s counsel stated that Terra’s tokens and projects were not specifically targeted at U.S. investors. The South Korean district court previously dismissed security violation charges against the co-founder of Terraform Labs, Hyun-seong Shin, deeming LUNA as non-security under Korea’s Capital Markets Act. (Read More)
