Terraform Labs vs. SEC Civil Battle Proceeds Despite Do Kwon's Absence
The civil battle between Terraform Labs and the SEC proceeds without Do Kwon, with the trial focusing on fraud allegations.

The civil battle between Terraform Labs and the SEC proceeds without Do Kwon, with the trial focusing on fraud allegations.
SEC sues Binance, citing similar Terraform Labs case, focusing on unregistered securities offers and sales.
Judge Rakoff's rulings present a complex scenario for Terraform Labs, with both favorable and adverse outcomes in their legal battle with the SEC.
Legal counsel representing Do Kwon has petitioned a federal court to dismiss the US SEC’s plea to interrogate him on American soil regarding the Terra Money ecosystem's collapse.
Previous attempts to arrest the Terra co-founder Daniel Shin failed because a South Korean court refused to grant the arrest warrant.
Terraform Labs is headquartered and registered in Singapore and this is the first time the country has publicly taken action against Do Kwon and his firm.
The U.S. SEC on Thursday charged Do Kwon with securities fraud involving its algorithmic stablecoin Terra USD and the LUNA token.
Terraform Labs employees have reportedly been prohibited from exiting South Korea as investigations by prosecutors continue.
The U.S. regulator is investigating whether Terraform used its Mirror Protocol to sell unregistered securities in a case unrelated to the Terra collapse.
There have been many calls on social media for legal action against Do Kwon, and there has also been speculation that the potential departure of his legal team may be motivated by money concerns.