A federal judge presiding in Manhattan has expressed the view that cryptocurrencies should be regarded as securities, regardless of the method of their transaction. This interpretation grants the Securities and Exchange Commission (SEC) authority to press charges related to securities against Terraform Labs. This legal stance also extends to the founder of the company, Do Kwon, and carries significant implications for the landscape of cryptocurrency legislation and legal actions.
The decision delivered by Judge Jed Rakoff introduces complications to the ongoing legal battles between the SEC and both Ripple and Coinbase. The SEC had put forth allegations asserting that Coinbase had engaged in the sale and offering of securities without proper…
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