A judge in the United States considered on Thursday whether the cryptocurrencies created by Terraform Labs were securities. The failed blockchain firm and its founder, Do Kwon, have asked the court to dismiss a case filed by the U.S. Securities and Exchange Commission (SEC) alleging that they defrauded investors whom they sold unregistered securities. Judge Reviews Status of the Digital Assets Sold by Terraform in SEC’s Fraud Case A judge in New York has considered whether the digital coins issued by Terraform Labs were securities during a hearing in the SEC’s case against the crypto company and its South Korean co-founder and CEO Kwon Do-Hyung, better known as Do Kwon. Earlier this year, the U.S. securities regulator charged the crypto entrepreneur and his company with defrauding investors and selling billions of dollars’ worth of digital assets that the commission deems unregistered securities. The value of the cryptocurrencies in question, stablecoin terrausd and the token luna
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