The US. Securities and Exchange Commission (SEC) has cited the Terraform Labs recent ruling during the Coinbase and Binance hearings strengthening its claim that the cryptocurrency exchanges went against the securities law.
On 28 December, the SEC ruled that Terraform Labs tokens UST and LUNA should be deemed securities – citing that Terraform Labs offered and sold unregistered securities, in violation of Sections 5(a) and 5(c) of the US Securities law.
In the most recent filing regarding the Coinbase lawsuit on Thursday the regulator is leveraging the same argument with cryptocurrency exchange Coinbase and Binance in separate lawsuits. Both exchanges are in an ongoing legal battle with the SEC.
On Tuesday, in a separate document, the SEC mentioned…
