Crypto Regulation News

Terra Co-Founder Do Kwon Fights SEC Charges and South Korean Indictment.

Lawyers for Do Kwon, founder of collapsed crypto issuer Terraform Labs, have requested a U.S. court to dismiss charges brought against him by the Securities and Exchange Commission partly because of the lack of jurisdiction. Kwon was arrested in Montenegro last month for attempting to travel with falsified documents. Following his arrest, the SEC charged the South Korean national with securities fraud. The SEC failed to prove "personal jurisdiction" as products referenced by the regulator were "available to the world and not directed at U.S. persons," a 47-page supporting document for a motion to dismiss the charges said.