Terraform Labs And Do Kwon Settle SEC Fraud Allegations In Civil Case
Summary
Terraform Labs and founder Do Kwon have tentatively settled with the SEC in a civil fraud case involving a crypto scam. The SEC seeks billions in disgorgement and penalties, a conduct-based injunction, and a bar against Kwon. Both parties have proposed their own civil penalties. The settlement awaits approval by a US District Judge. The case's outcome will likely impact future regulatory actions in the cryptocurrency space. Terra Luna Classic's native token, LUNC, has experienced a significant rebound in trading.
