CoinVoice has recently learned that the U.S. Securities and Exchange Commission (SEC) has accused Jump Trading's wholly-owned subsidiary Tai Mo Shan of misleading investors regarding the stability of Terra USD (UST), which is a so-called 'algorithmic stablecoin' issued by Terraform Labs PTE Ltd. (Terraform).
The committee also accused Tai Mo Shan of acting as a statutory underwriter, issuing and selling securities in unregistered transactions, with LUNA being a cryptocurrency asset issued by Terraform, treated as a security issuance and sale.
As part of the settlement agreement, Tai Mo Shan agreed to pay $73,452,756 in illegal gains, $12,916,153 in pre-judgment interest, and $36,726,378 in civil penalties. Tai Mo Shan neither admits nor denies the findings of the U.S. SEC's investigation and agrees to cease violations of registration and fraud regulations. [Original link]
