Terra’s Do Kwon Wants SEC Charges Dismissed, Court Filings Show

In the civil action brought against Kwon, the regulator failed to prove “personal jurisdiction” as products referenced by the SEC were “available to the world and not directed at U.S. persons,” a 47-page supporting document for a motion to dismiss the charges said. It also says that a digital asset involved in the case, the stablecoin UST, does not fall under the purview of the SEC as it is a currency and not a security.

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