A federal judge has denied Terraform Labs’ motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit, stating the SEC had a plausible claim that TerraUSD (UST), Anchor Protocol, and LUNA may have violated securities law. The judge also rejected the defense’s attempt to use a recent ruling in the Ripple Labs case as a precedent.
Motion to Dismiss SEC Lawsuit Against Terraform Labs Denied
Published July 31, 2023