Algorand

Conceal

Monolith

OMG Network

Rekt

<a href="blockhead./co/tag/do-kwon">Do Kwon</a> and his lawyers have failed to prevent the U.S. Securities and Exchange Commission (<a href="blockhead./co/tag/sec">SEC</a>) from accessing Terraform Labs' records in Singapore.
The SEC filed a lawsuit against Do Kwon and Terraform Labs in February for crimes including fraud and selling unregistered securities.
Earlier this month, the <a href="blockhead./co/tag/luna">LUNA</a> founder's lawyers claimed that the SEC was operating outside its jurisdiction. Court filings with the US Supreme Court point to the fact that Terraform Labs is a Singaporean company, and that Do Kwon is a Singapore resident.
It further adds that Terraform Labs operates globally, not specifically in the US.
“Kwon is the CEO of Terraform, an open-source software development company with limited contact with the U.S. Most of the company’s business is essentially global, and it’s not specifically aimed at the United States," the filing reads. Lawyers had requested an extension of the appeal filing.
Read more: <a href="https://www.blockhead.co/2023/04/05/do-kwons-lawyers-slam-sec-claim-terraform-is-singaporean/">Do Kwon's Lawyers Slam SEC, Claim Terraform is Singaporean</a>
At a hearing on Friday, U.S. District Judge Jed Rakoff denied the firm's request for the SEC to withdraw its request for documents in the Monetary Authority of Singapore's (MAS) possession.
It is unclear which records exactly the SEC is seeking but its pursuit is believed to strengthen its case against Do Kwon.
Do Kwon was arrested last month in Montenegro after allegedly travelling under a false name with fake documents.
Montenegro interior minister Filip Adzic announced the news <a href="https://www.blockhead.co/2023/03/24/do-kwon-arrested-in-montenegro-faces-us-criminal-fraud-charges/blockhead.co/tag/do-kwon">Do Kwon</a>'s arrest on Twitter, stating that "one of the world's most wanted fugitives" had been detained at the capital's Podgorica airport.
Read more: <a href="https://www.blockhead.co/2023/03/24/do-kwon-arrested-in-montenegro-faces-us-criminal-fraud-charges/">Do Kwon Arrested in Montenegro, Faces US Criminal Fraud Charges</a>
<h2 id="sec-loses">SEC loses</h2>
The SEC and the crypto industry have been at loggerheads. Taking on the likes of <a href="https://www.blockhead.co/2023/04/10/sushiswap-loses-3-3m-in-exploit-releases-sec-response/">SushiSwap</a>, <a href="https://www.blockhead.co/2023/03/28/coinbase-shares-fall-as-exchange-prepares-for-battle-with-sec/">Coinbase</a>, <a href="https://www.blockhead.co/2023/03/10/ethereum-is-a-security-again-as-kucoin-exchange-sued-by-nyag-cftc-sec/">Ethereum</a>, and <a href="https://www.blockhead.co/2023/03/23/tron-founder-justin-sun-faces-sec-charges/">Justin Sun</a>, and even battling the <a href="https://www.blockhead.co/2023/03/09/sorry-sec-stablecoins-are-commodities-according-to-cftc-rostin-behnam/">CFTC</a> over crypto-related issues, the SEC is strengthening its presence in the web3 world.
In the most recent chapter of the SEC's crypto battle, the agency has classified six cryptocurrencies as cryptocurrencies: OMG Network (OMG), Dash (DASH), Monolith (TKN), Naga (NGC), Real Estate Protocol (IHT), and <a href="blockhead.co/tag/algorand">Algorand</a> (ALGO).
Its decision comes amid its lawsuit against crypto exchange Bittrex, which the SEC claims failed to register as an exchange or clearing agency. For the accusation to carry weight legally, at least one of the tokens listed on Bittrex needed to be a security.
ALGO is the largest token on the list in terms of market cap, with a total value of around $1.6 billion.
Read more: <a href="https://www.blockhead.co/2023/04/18/sec-declares-algorand-a-security-gensler-gets-rekt-for-previously-shilling-it">SEC Declares Algorand a Security, Gensler Gets Rekt For Previously Shilling it</a>
However, soon after the SEC's decision, crypto Twitter was quick to unearth footage of SEC Chair Gary Gensler previously promoting Algorand, describing the network as "great technology" that could support other tech firms such as Uber.
<hr>
The world of Web3 can be quite a whirlwind. Whether it’s crypto news in Singapore, South East Asia or even across the globe, we understand how busy the industry is keeping you, so we kindly send out three newsletters each week:
<ul>
 <li><a href="https://blockhead.co/tag/blockbeat?ref=blockhead" rel="noopener noreferrer">BlockBeat</a> for a wrap-up of the week’s digital assets news</li>
 <li><a href="https://blockhead.co/tag/blockhead-brief?ref=blockhead" rel="noopener noreferrer">Blockhead Brief</a> for weekend happenings as well as what to look forward to in the week ahead</li>
 <li><a href="https://www.blockhead.co/tag/business-bulletin/" rel="noopener noreferrer">Business Bulletin</a> for macroeconomic updates and industry developments.</li>
</ul>
To avoid FOMO and access member-only features, click <a href="https://www.blockhead.co/#/portal/" rel="noopener noreferrer">here</a> to subscribe for FREE.

Do Kwon Loses SEC Battle to Conceal Singapore Records

目录

Blockhead

发布于 2023年4月19日的其他文章

UK May Have Crypto Regulation Within a Year, Says Senior Minister

SpaceX Starship Test Flight Coming on DOGE Day? Elon Musk Teases Incoming Launch

Ethereum (ETH) Price Prediction $100,000

SubQuery Essentials: Comparing Decentralized Data Indexers

Ethereum Rivals Chainlink (LINK) And Aave (AAVE) Crushed by TMS Network (TMSN) With an Unpreceden...

A Comparative Analysis of DAG-Based Blockchain Architectures

订阅我们免费的电子期刊，获取每日最新加密领域动态！