Terraform Labs Co-Founder Challenges SEC's Lawsuit

Terraform Labs Co-Founder Requests Dismissal of SEC Suit

Terraform Labs co-founder Do Kwon and Terraform have asked a U.S. district judge to dismiss the SEC's securities and fraud lawsuit. 

They argue that Terra's cryptocurrencies and mirrored assets are not securities, and the SEC has failed to provide evidence of wrongdoing, particularly regarding alleged secret money transfers to Swiss bank accounts.