ANALYSIS: The SEC has already sued Terraform Labs. It has every reason to investigate UST, lawyers say by the_postman_
“Even if there’s a question as to whether UST is a security,” Moustakis continued, “Even if the stablecoin as designed may have eluded the application of the federal securities laws, the subsequent transactions could drive it back into the purview of the SEC.”
This draws attention to the associated Anchor protocol’s promise of 20% returns on staked UST, as well as the Luna Foundation Guard’sBeyond questions of whether stablecoins are securities is the question of the SEC’s international sway. Despite this disinterest in American policy and American regulators, TerraUSD was pegged to the US dollar. Mirror Protocol allowed trading of synthesized or"mirrored" versions of US stocks like Tesla and Apple in exchange for the Terra blockchain-based UST.
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