New York Federal Court Allows U.S. SEC to Proceed with Fraud Case Against Terraform Labs
In a significant legal development, a New York federal court has given the green light for the U.S. Securities and Exchange Commission (SEC) to prosecute its fraud case against Terraform Labs and its founder, Do Kwon. This decision contradicts a previous finding by Judge Analisa Torres, who ruled that secondary market XRP transactions were not considered investment contracts.