2023.05.03
The Seoul court ruled that Luna, a cryptocurrency developed by Terraform Labs, is not a security
The Seoul Southern District Court has made a ruling that cryptocurrency ‘Luna’ is not a security. This ruling has stopped the prosecution’s investigation into the alleged violation of the Capital Market Act by the co-founder of Terraform Labs, initial investors, and key technical personnel. The prosecution had filed seizure and attachment claims against Shin Hyun-sung, the former co-CEO of Terraform Labs, but the court rejected these claims.
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