Bitcoin

Read

<p class="is-style-lead">The legal team of Terraform Labs and its founder, Do Kwon, has drawn attention to a potential <a href="https://twitter.com/innercitypress/status/1731731749321748862?t=tIuAqYDDblBh4n4_pl9hbg&amp;s=19" target="_blank" rel="noopener">sanction</a> threat against the SEC by a Utah federal judge. </p> 
<p>This development surfaced in the Southern District of New York Court, presided over by Judge Jed S. Rakoff. The case has been under intense scrutiny, primarily centered on allegations against Terraform Labs regarding its blockchain and cryptocurrency operations.</p> 
<p>The recent twist, however, shifts some focus onto the SEC. Terraform Labs’ counsel informed Judge Rakoff of a separate case in Utah, in which Judge Robert J. Shelby hinted at sanctioning the SEC for misleading conduct in its case against Digital Licensing Inc.</p> 
<p> You might also like: <a href="https://crypto.news/bitcoin-surges-past-42k-in-a-year-long-rally/"> Bitcoin surges past $42k in a year-long rally </a> </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Second shoe drops (on SEC?) – just now in SEC v. Terraform Labs / Do Kwon case in SDNY, defendant have formally raised to Judge Rakoff the Utah federal judge threatening to sanction the SEC for misleading, in Debt Box / Digital Licensing case – story coming <a href="https://t.co/r8RSIeL2n4" target="_blank">pic.twitter.com/r8RSIeL2n4</a></p>— Inner City Press (@innercitypress) <a href="https://twitter.com/innercitypress/status/1731731749321748862?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 4, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The information was raised amidst preparations for a potential January 2024 trial or a summary judgment decision for the Terraform Labs case. The move by Terraform Labs’ counsel is an effort to question the SEC’s conduct in similar regulatory cases.</p> 
<p>Last month, <a href="https://crypto.news/breaking-montenegro-court-approves-do-kwons-extradition/">Do Kwon</a> was extradited from Montenegro after serving a sentence for document forgery. As the case continues, Judge Rakoff also took measures to protect whistleblowers’ identities, indicating the sensitivity and complexity of the trial.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/adrienne-harris-leads-the-largest-crypto-regulatory-unit-probably-anywhere-in-the-world/"> Adrienne Harris leads the largest crypto regulatory unit ‘probably anywhere in the world’ </a> </p>

Terraform Labs highlights SEC’s potential sanction in Do Kwon’s case

crypto.news

Other articles published on Dec 4, 2023

Bitcoin breaches $42,000, Ether tops $2,200, market sentiment bullish

Rejuve AI Token (RJV) Surges 93% In 48 Hours

Spanish Man Wanted by FBI for North Korean Crypto Scheme Arrested

Hong Kong, Singapore Attract Increasing Crypto VC Funding

LUNC Stuns With 300% Gains, Can It Reach Its Previous ATH Market Cap?

New Record in Institutional Bitcoin and Altcoin Funds: Investors' Interest Focused on This Altcoin!

Join our free newsletter for daily crypto updates!