Do Kwon's lawyers argue U.S. law precludes regulators 'from using federal securities law to assert jurisdiction over the digital assets in this case.'Terra SEC UST LUNA
that there is “a great deal of uncertainty” regarding the SEC’s enforcement actions. Kwon’s lawyers capitalize on this ambiguity to assert that the SEC’s attempt to categorize all cryptocurrencies as securities falls short.The SEC’s improper assertion of power here by trying to shoehorn all cryptocurrencies into its definition of a ‘security’ fails.by the SEC of leading “a multibillion-dollar crypto-asset securities fraud” filed in mid-February 2023.
This lawsuit is not the first time Kwon and the SEC have crossed paths. The SEC had previously served Kwon with a subpoena in 2021 over the Mirror protocol, and Kwon had
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