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Judge Rakoff has denied a motion to dismiss the Terraform Labs lawsuit against the SEC and expressed disagreement with the recent ruling in Ripple's case. Terraform Labs Fails to Follow the Road taken by Ripple against SEC Last month, Ripple Labs celebrated its partial but remarkable victory in the 3-year-long battle against the US Securities and Exchange Commission (SEC).
Terraform Labs claimed that the failures of its algorithmic stablecoin and governance token were the result of an attack from short sellers, potentially involving Alameda Research.
The implications of this judgment are significant for both Terraform and the broader ecosystem.
The world's largest crypto exchange Binance has burned 1.41 billion Terra Luna Classic (LUNC) tokens in the 12th batch of the LUNC burn mechanism. With the latest burn, the total LUNC burned by the crypto exchange reaches near 37 billion and the total burn by the community surpasses 71.5 billion LUNC tokens.
Terra Classic (LUNC) has encountered a downward trend in the past weeks, defying expectations even in the face of promising advancements. Despite garnering support from industry giant Binance for its latest network upgrade, the token's value has been on a steady decline, losing nearly 10% of its value in a month.
After a federal judge issued a conflicting decision in a Terra case that the SEC had filed, the classification of digital assets in the US is still up in the air. The court rejected the judge's ruling that Ripple's XRP sales did not break any securities regulations in the Terra case.
In a significant development in the cryptocurrency space, US District Judge Jed Rakoff dealt a blow to the ruling in the XRP case, challenging the distinction made between public and institutional sales of XRP as non-security offerings. This ruling allows the Securities and Exchange Commission (SEC) to proceed with its case against Terraform Labs and founder Do Kwon, rejecting the argument that the assets in question were not securities.
In a highly critical decision, the Terra Luna Classic community is at crossroads over the fate of 800 million USTC tokens linked to the Ozone Protocol. Instead of returning them to the community pool, some members are advocating for their burning, which could have significant implications for the value of LUNC and USTC tokens.
There has been a major shift in the legal struggle between stablecoin issuer Terraform Labs and the U.S. Securities and Exchange Commission (SEC). U.S. District Judge Jed Rakoff, ruling over the case, refused Terraform Labs' motion to dismiss the SEC's action against them on Monday.
US Judge Jed Rakoff dismissed Terraform Labs' request to dismiss the US Securities and Exchange Commission (SEC) charges.
In the most recent developments in the ongoing case between Terraform Labs and the United States Securities and Exchange Commission (SEC), a U.S. federal judge decided on Monday that the crypto firm and its founder, Do Kwon, will continue to face fraud allegations.
Judge Jed Rakoff gave a detailed interpretation of the Howey test that was at odds with the decision on the SEC case against Ripple.
The ruling found that crypto "falls far short" of having the significance needed for Congress to review regulation.
A federal judge overseeing the SEC's lawsuit against Terraform Labs and Do Kwon has rejected the ruling of fellow judge Analisa Torres which found that XRP sold on secondary markets were not securities.
In a landmark development, the Terra Luna Classic community has achieved a major step forward in enhancing governance and decentralization with the successful passing of Proposal 11653. The proposal, titled “Enhancing Governance And Decentralization In The Transition to Commonwealth,” received an overwhelming 94% approval from the community.
The Terra/Luna issuer was the first to cite the recent Ripple decision in its defense against an SEC enforcement action.
A federal judge rejected Terraform Labs' motion to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission.
Terraform Labs and its founder Do Kwon must face fraud allegations brought by the U.S. Securities and Exchange Commission, a federal judge in Manhattan ruled on Monday.
The Terra Luna Classic community favors burning 800 million USTC tokens linked to Ozone Protocol rather than returning them to the community pool. Validators and some members have introduced a counter-proposal to prominent member Vegas' proposal to return the 800 million USTC tokens back to the community pool.
LUNC News: Terra Luna Classic community passed a key proposal enhancing governance and decentralization in the transition to the Commonwealth forum. With the proposal submitted by Terra Luna Classic validator Happy Catty Crypto now passed, current Commonwealth administrators need to revoke their rights and pass access to Joint L1 Task Force developer Vinh Nguyen.
Terra LUNA Classic Price: LUNC crypto appears to be very close to breaking down from the current trading range. Bulls need to hold $0.00008000 level.
The crypto space continues to remain within the same narrow region as the tokens undergo a minor upswing compared to the previous day's close. Not much variation has been recorded since then as the star crypto continues to chop around $29,500, failing to rise above these levels.
OPNX has announced the imminent launch of the FatManTerra Justice Token. This move comes in response to the commencement of legal proceedings against FatManTerra by several parties.
Amidst a prevailing bearish sentiment in the crypto market, the LUNC price witnessed a corrective phase over the past two weeks. Starting from its peak of $0.0000968, the coin has experienced a significant 15% decline, settling at its current trading price of $0.0000818.
