Terraform Labs requests the court to dismiss the SEC's allegations of its involvement in a multi-billion dollar securities fraud

ChainCatcher news, according to CoinDesk, Terraform Labs and its co-founder Do Kwon filed a motion with the court to dismiss the U.S. Securities and Exchange Commission (SEC) allegations of their involvement in billions of dollars of securities fraud.

He stated that the SEC has not proven that it is offering securities and has not provided reasons for its claims of offering unregistered securities. After two years of investigation, and following the end of the discovery period, the SEC heard over 20 testimonies and exchanged more than 2 million pages of documents and data, but it is clear that it still cannot prove any wrongdoing by the defendants.