Cryptocurrency Q&A
Did terraform labs & Kwon unlawfully sell crypto asset securities?
Did terraform labs & Kwon unlawfully sell crypto asset securities?
DongdaemunTrendsetterStyle
Sat Jun 22 2024
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7 answers
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In recent developments, there have been allegations surrounding Terraform Labs and its founder, Do Kwon, regarding the sale of crypto asset securities. Could you elaborate on the specifics of these allegations? Are there any indications that the sales were conducted unlawfully? Did Terraform Labs or Kwon fail to comply with regulatory requirements in their offerings? Furthermore, has there been any legal action taken against the company or its founder as a result of these alleged illegal sales? And if so, what are the potential consequences for Terraform Labs and Kwon?
7 answers
Sara
Mon Jun 24 2024
In a recent ruling, the Court determined that Terraform Labs and its founder Kwon had unlawfully offered and sold crypto asset securities.
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QuasarStorm
Mon Jun 24 2024
This action was deemed to be in violation of the registration provisions outlined in the Securities Act of 1933.
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Sara
Mon Jun 24 2024
The Securities and Exchange Commission (SEC) Division of Enforcement Director, Gurbir S. Grewal, issued a statement regarding the matter.
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SumoPride
Sun Jun 23 2024
In his statement, Director Grewal emphasized the importance of adhering to securities laws, particularly when dealing with crypto assets.
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Maria
Sun Jun 23 2024
He noted that the Court's decision sends a clear message to those considering engaging in unregistered offerings of crypto asset securities.
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