Étiquette : terra

Edited by Matt Waller South Korea’s top court has delivered a game-changing decision for the crypto world. In a unanimous ruling, the Supreme Court declared that TerraUSD and Terra (LUNA) do not qualify as regulated financial products under the Capital Markets Act. This verdict overturns the prosecution’s appeal and prevents asset seizures of Terraform Labs co-founder Shin Hyun-seong. What the Ruling Means The court’s decision is clear. Lower courts had already ruled that Terra’s tokens do not meet the legal definition of securities. Now, the Supreme Court has confirmed that these tokens fall outside regulatory protection. Prosecutors had tried to classify LUNA as a security to seize assets linked to alleged fraud. The ruling denies that claim. The decision ...