South Korean court decides that Luna is not a security: Report

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Ein südkoreanisches Bezirksgericht hat erklärt, dass LUNA, das native Token des Terra-Ökosystems, kein Wertpapier ist. Das Gericht wies auch die Anträge der Staatsanwaltschaft auf Beschlagnahme von Grundstücken des in Singapur ansässigen Mitbegründers von Terraform Labs, Shin Hyun-Seong, zurück und verhaftete ihn zusammen mit anderen Führungskräften des in Singapur ansässigen Projekts. LUNA ist kein Sicherheitstoken Das Südbezirksgericht von Seoul stellte kategorisch fest, dass LUNA laut einem Bericht des lokalen Medienunternehmens ilyo vom 24. April nicht als Wertpapier angesehen wird. Das Gericht sagte in seiner Entscheidung: „Es ist schwierig, LUNA zu sehen Coin als durch das Kapitalmarktgesetz reguliertes Finanzanlageprodukt.“ Unterdessen ist das …
A South Korean district court said that Luna, the native token of the Terra ecosystem, is not a securities. The court also rejected the applications of the public prosecutor's office for the confiscation of land from the co-founder of Terraform Labs, Shin Hyun-Seong, based in Singapore, and arrested him together with other managers of the project based in Singapore. Luna is not a security token The Seoul southern district court categorically found that Luna is not regarded as securities according to a report by the local media company Ilyo of April 24th. In its decision, the court said: "It is difficult to see Luna Coin as a financial investment product regulated by the capital market law." Meanwhile, this is ... (Symbolbild/KNAT)

A South Korean district court has stated that Luna, the native token of the Terra ecosystem, is not a securities.

The court also rejected the applications of the public prosecutor's office for the seizure of land from the co-founder of Terraform Labs, Shin Hyun-Seong, and arrested it together with other managers of the project based in Singapore.

luna is not a security token

The Seoul southern district court categorically found that according to a report by the local media company Ilyo of April 24, Luna is not regarded as securities. The court said in its decision: "It is difficult to see Luna Coin as a financial system product regulated by the capital market law."

the latest judgment is remarkable in that other dishes were not clear whether Luna is a securities token or not.

In addition, the court rejected several applications from prosecutors to issue an arrest warrant against the co -founder of the Terraform Lab and other managers, as Shin's lawyer said. In addition, the Southern district court in Seoul rejected the claims of the public prosecutor's office to the confiscation of Shin's property and explained that “it is difficult to recognize that the property objected is property that was acquired by a crime, or an asset derived from it.”

As already reported by cryptopotato the co-founder of Terraform Labs, appeared for the interrogation before the district court of Seoul with regard to his participation in the breakdown of Luna and the algorithmic stable coin UST, which led to losses of $ 40 billion for the user.

According to the South Korean authorities, Shin is said to have violated the capital market law and the law on electronic financial transactions, among other crimes. However, the former manager claimed that he left Terraform Labs two years before the collapse of Luna/Vust in 2022.

make Kwon's fate undecided

While Luna is not considered a securities according to the South Korean district court, supervisory authorities in the United States have sued Labs Terraform Terraform and the co -founder Do Kwon for violating securities. As stated in a lawsuit by the Securities Exchange Commission (SEC), both parties have offered and sold non -registered securities via crypto.

do Kwon, who reported reported to the authorities, was arrested in Montenegro. There were also reports that Kwon had transferred about $ 7 million to a law firm before the Terra crashed.

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