The Terra/Luna issuer was the first to cite the recent Ripple decision in its defense against an SEC enforcement action.
A federal judge rejected an argument that the recent split decision in the Securities and Exchange Commission’s case against Ripple might invalidate part of, or all of, the agency’s case against Terraform.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.A federal judge rejected an effort to dismiss the enforcement case brought by the Securities and Exchange Commission against Terraform Labs and founder Do Kwon.
"It may also be mentioned that the Court declines to draw a distinction between these coins based on their manner of sale, such that coins sold directly to institutional investors are considered securities and those sold through secondary market transactions to retail investors are not. In doing so, the Court rejects the approach recently adopted by another judge of this District in a similar case," Rakoff wrote, directly citing the© 2023 The Block Crypto, Inc.
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