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United States of America: Announced complaint against Terraform Labs and CEO Do Hyeong Kwon for alleged violation of Securities Act

Policy overview

Description

Announced complaint against Terraform Labs and CEO Do Hyeong Kwon for alleged violation of Securities Act

On 16 February 2023, the US Securities and Exchange Commission (SEC) filed a complaint against Terraform Labs and CEO Do Hyeong Kwon with the US District Court for the Southern District of New York for allegedly violating Section 5 and Section 17 of…

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Business registration requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

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2023-02-16
under deliberation

On 16 February 2023, the US Securities and Exchange Commission (SEC) filed a complaint against Terr…

2023-07-31
in force

On 31 July 2023, the US District Court for the Southern District of New York issued its opinion and…

2023-12-28
under investigation

On 28 December 2023, the United States District Court ruled in favour of the Securities and Exchang…

2024-04-05
in force

On 5 April 2024, a jury in the United States District Court for the Southern District of New York f…

2024-06-13
in force

On 13 June 2024, the Securities and Exchange Commission (SEC) announced the closure of its public l…