SEC charges Terraform Labs and founder Do Kwon with defrauding investors

The US Securities and Exchange Commission has charged the collapsed blockchain firm and stablecoin operator Terraform Labs and its founder Do Kwon with defrauding U.S. investors who purchased the digital assets Terra USD and Luna.
The US financial regulator accused Kwon and the Singpoare-based crypto firm of offering and selling an inter-connected suite of crypto asset securities, “many in unregistered transactions” from April 2018 to May 2022. The SEC also alleged in federal court that the firm and its founder misrepresented the stability of Terra USD, a stablecoin developed by Kw

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