United States of America: Issued ruling in jury trial in favour of SEC in Terraform Labs Case for alleged violation of Securities Act
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Description
Issued ruling in jury trial in favour of SEC in Terraform Labs Case for alleged violation of Securities Act
On 5 April 2024, a jury in the United States District Court for the Southern District of New York found Terraform Labs and Do Kwon liable for defrauding investors in crypto asset securities. The Court had previously found they unlawfully offered and sold crypto asset securities in violation of the registration provisions of the Securities Act of 1933.
Original sourceScope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Business registration requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
judiciary
Government Body
court
Complete timeline of this policy change
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2023-02-16
under deliberation
2023-07-31
in force
2023-12-28
under investigation