As Do-hyung Kwon, CEO of Terraform Labs, is soon to have his passport expire this coming 19^th, the prosecutor’s office is focusing on proving “Terra, Luna” as investment contract securities under the Financial Investment Services and Capital Markets Act to apply the charges accordingly. Partner attorney Sangjin Cha reiterated the view that “from the past, certain countable assets in the financial investment industry should have been viewed as investment contract securities.” He predicted that the prosecutor’s office would bring a significant impact on policies when it applies the Financial Investment Services and Capital Markets Act to this case as the financial authorities have not recognized the securities properties of virtual assets thus far. [News Tomato 10.12.22]

URL: Investigation on Terra, Luna—Proving Them To Be Investment Contract Securities Is the Key