The US Securities and Exchange Commission differed with the Korean Court’s finding of not recognizing LUNC as security.
Do Kwon is facing fraud charges in Montenegro for using a counterfeit passport and driving license.
A South Korean court ruled in its decision that the native token of Terra Network LUNA, now renamed LUNC is not a security. In its decision made in February, the South Korean Court stated that it is challenging to identify LUNC as a financial investment product that The Capital Market regulates.” The Court made some decisions in November 2022, but the local media organization did not disclose them.
The decision clarified that the South Korean prosecutors could not seize any digital assets belonging to the co-founder of LUNC, Daniel Shin aka. Shin Hyun Seung. Prosecutors reportedly sought more than $100 million in Shin’s assets in November for his role in the collapse of the Terra ecosystem. The properties must be restored to the victims of the Terra coll
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