Terra (LUNA) Founder Do Kwon Asks Court To Dismiss SEC’s Securities Fraud Charges

Terraform Labs (TFL) and its co-founder Do Kwon have requested the dismissal of the charges brought against them by the U.S. Securities and Exchange Commission (SEC). In a new court filing, Kwon pushes back against charges related to the alleged violation of securities registration and anti-fraud provisions in relation to TFL’s stablecoin, TerraUSD (UST), and its companion digital asset, LUNA. The SEC has accused TFL of violating securities law by selling these digital assets without registering them with the agency. Kwon and TFL are motioning to dismiss the SEC’s claims, arguing that the digital assets are not securities under the