CoinVoice has recently learned that the U.S. Securities and Exchange Commission (SEC) issued an announcement stating that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than US$4.5 billion.
âThis case confirms what has been reiterated time and again: it is the economic substance of a product, not the label, the pitch, or the hype, that determines whether it is a security under the securities laws,â said SEC Chairman Gary Gensler. âTerraform and Do Kwonâs fraud is a reminder that when companies break the law, investors suffer.â [Original link]