U.S. Securities and Trade Fee (SEC) attorneys stated further paperwork filed by Terraform Labs and Dentons, the legislation agency representing Do Kwon, in help of the dismissal movement help the dismissal. They argued that they lacked ample corroboration.

SEC Advisor declare It argues that the Binance.US information and inner SEC emails filed by the protection are irrelevant to this lawsuit. They argue that the Howey check clearly defines the parameters of an “funding contract” and that TerraUSD (UST) must be labeled as a safety.

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