• Written by: (Blockchain News
  • Tue, 25 Apr 2023
  •   Hong Kong

A South Korean court dismissed charges of security violations against former Terraform Labs CEO Hyun-seong Shin, ruling that LUNA is not a security under the country's Capital Markets Act. The court rejected the prosecution's appeal for confiscation of Shin's properties and arrest, and stated that Luna is not a financial investment product regulated by the act. However, the prosecution has appealed to the Supreme Court against the verdict of the lower district court. (Read More)

South Korean Court Clears Former Terraform Labs CEO of Security Violations