By CryptoNews - 9 months ago - Reading Time: 1 minutes
Terraform Labs Lawsuit: Judge Rejects Motion to Dismiss SEC Case
A US Judge has denied Terraform Labs' motion to dismiss a securities fraud lawsuit filed against it by the Securities and Exchange Commission (SEC).On Monday, US District Judge Jed Rakoff rejected Terraform Labs' arguments that the SEC lacked jurisdiction and that its TerraUSD stablecoin did not qualify as an unregistered security.
The ruling now allows the SEC's case against Terraform Labs and its founder, Do Kwon, to move forward....
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Original source: CryptoNews