SEC charges Terraform and Do Kwon with fraud
The document, which was officially filed last night, lists a dozen violations committed by the Singapore-based company and its co-founder Do Kwon.
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In addition to charges under the Howey test that the SEC uses to target most of the crypto projects, there are some uncommon ones:
- the centralization of Terraform;
- the issuer's control of the stablecoin value.
And so, the SEC is accusing a crypto company of using the Central Bank's principles in its operations.
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