Do Kwon Says SEC Is Out of Bounds in Pursuing Crypto Fraud Suit
- Terraform co-founder urges judge to throw out SEC lawsuit
- Kwon is detained in Montenegro facing forgery charges
This article is for subscribers only.
Crypto entrepreneur Do Kwon’s lawyers say a US regulator’s lawsuit accusing him and Terraform Labs Pte of securities fraud is unfounded, in part, because the stable coin at issue is a currency, not a security.
US law prohibits regulators “from using federal securities law to assert jurisdiction over the digital assets in this case,” Kwon’s lawyers said Friday in a request to a judge to dismiss the lawsuit.