US Judge Takes Center Stage: Terraform Labs CEO Grapples with SEC and Criminal Charges

A U.S. judge recently decided that Terraform Labs and its former CEO, Do Kwon, broke the law by not registering two digital currencies, LUNA and MIR. The judge agreed with the SEC on this issue but didn't decide on the fraud claims yet. They'll have a trial for that in January 2024. Terraform Labs strongly disagrees with this decision and says their tokens weren't securities. This case started because of problems with a digital currency called UST, which caused big losses in the crypto market. Besides the SEC case, Do Kwon also faces criminal charges from the Department of Justice and was arrested in Montenegro in March after running away from charges in South Korea.