According to Foresight News, Terraform Labs will restrict access for US users following a decision by the US Securities and Exchange Commission (SEC). The development is described as 'frustrating' by Terraform Labs, which 'principally opposes geographical blocking' but feels it has no choice but to comply. Additionally, the company will begin withdrawing $23.8 million worth of LUNA liquidity from the Astroport, Ura, and White Whale platforms on April 26.

In previous news from Foresight, the SEC had proposed a motion requiring Terraform Labs and its co-founder Do Kwon to pay approximately $4.7 billion in disgorgement and pre-judgment interest, as well as a total of $520 million in civil penalties. Furthermore, the SEC has issued a 'conduct-based prohibition' to prevent 'engaging in substantially similar conduct leading to large-scale fraud'.