Kwon seeks dismissal of charges from SEC over LUNA admission

Description of the problem

Recently, the cryptocurrency market has been suffering from a series of accusations from the US regulator SEC. However, one of these cases, which concerns the CEO of Terraform LabsDo Kwon, has aroused particular interest among the crypto community. The SEC accuses Kwon of illegally selling LUNA securities that were not registered with the SEC.

What is LUNA?

  • LUNA is a cryptocurrency used in the Terraform Labs ecosystem, which was launched in 2018.
  • Terraform Labs – is a company focused on developing blockchain solutions and decentralized financial services. In 2021, LUNA became one of the most well-known and popular cryptocurrencies on the market.

Kwon’s requirements

After receiving the charges from the SEC, Do Kwon demands that the charges against him be dropped. He cites that he was selling LUNA, which is not considered a security in South Korea, so he did not violate SEC laws.

Public reaction

Differences in regulatory approaches to cryptocurrencies around the world are not new. However, the SEC’s accusations have prompted a discussion of the need for global regulation of the cryptocurrency market.


Thus, the issue of LUNA’s registration with the SEC and its recognition as a security remains open. Under U.S. law, issuing companies must comply with the SEC’s registration and disclaimer rules. If LUNA fails to register with the SEC, this could have serious consequences for the company and its investors.

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My name is Miroslav. I was born in the city of Chernivtsi. Since childhood I was a very active and energetic guy. I loved playing basketball, running and exploring the world around me. I always tried to be the best at what I did. Outside of work, I'm into playing guitar, it helps me relax and enjoy life. I also love to travel and visit new places. I have had many challenges and obstacles in my life, but I have always set goals for myself and tried to achieve them. I believe that the most important thing in life is to develop and constantly improve yourself.

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