Terraform Labs and its Chief Executive, Do Kwon have been charged by the US SEC for running a “multi-billion dollar crypto asset securities fraud.” In an announcement made on Thursday, the securities regulator claimed that the company’s crypto assets were not registered securities. Terraform Labs and Do Kwon Charged by SEC for Fraud According to the lawsuit filed in the federal court for the Southern District of New York in Manhattan, the US regulator has accused Terraform and Kwon of executing a fraudulent scheme from April 2018 until the project’s collapse in May 2022. The lawsuit alleges that the Singapore-based
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