The Supreme Court of South Korea ruled that the cryptocurrencies TerraUSD (UST) and LUNA are not securities, rejecting a request from the prosecution to seize assets from Terraform Labs co-founder Shin Hyun-sung. The court found that these assets do not meet the criteria of a financial product under capital market laws. This decision sets a precedent for the future classification of virtual assets in the country. Despite this, Shin and other company executives still face charges of fraud and market manipulation.
2/20/2025 8:32:10 AM (GMT+1)
The Supreme Court of South Korea recognized the cryptocurrencies TerraUSD and LUNA as non-securities, rejecting the seizure of assets from Terraform Labs co-founder Shin Hyun-seong
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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