The Rules of the Supreme Court Korea failed Terrausd and Luna does not produce financial investment: Report

The Supreme Court of South Korea with lower courts in deciding that Terrausd and Luna do not meet the criteria for financial investment products.

KoreaThe Supreme Court ruled that he had crashed StableCoin Torrausd (Ustc) and his sister token tera (Luna) are not products of financial investment, rejecting the Prosecution’s appeal and supporting earlier decisions, Korean List Ethodai reports.

23. January, the Court rejected the prosecutor’s request to take away property TerraForm Labs Co-founder Shin Hyun-Seong. The court agreed with the lower courts already ruled Luna is not qualified as a regulated financial product under the act of capital Korea, stating that “related law and records show that the lower court donation is valid.”

Prosecutors claimed that Luna was a kind of security and tried to take away Shin’s property, claiming that he brought illegal profit. However, the courts repeatedly judged that Luna does not meet the legal definition of a security or financial investment product.

The Law on Capital Markets does not apply to

Lawyer Kim Jung-Chul From the law firm, Voori said that Judgment does not only differ only the status of Luna Security, but also “confirms that the Law on Capital Markets, which means that the confiscation of property is not possible.”

Despite the judgment, Shin and other Terrapactors executives continue to face charges of fraud. Prosecutors say the investors were registered and manipulated the market to profit from Terra Blockain.

Do the kwonThe key figure behind Terra was extradited From Montenegro and appeared in January at the Manhattan Court in January at Federal Chambers for Fraud. The American Breaking Jury accused the CRIPTO CRIPTO CRIPTO inflation quone and washing the washing. Terra delivery in May 2022. He erased over $ 40 billion, causing great losses of investors around the world.