Terraform Labs and SEC agree on confidentiality terms as trial approaches
The legal team of Terraform Labs and Do Kwon have agreed with the SEC on maintaining the confidentiality of certain documents in their trial . The agreement comes in the context of charges leveled by the SEC against the LUNA founder in February, accusing them of conducting a fraudulent scheme involving cryptocurrency assets worth billions of dollars. Terra’s stablecoin UST and LUNA collapse in 2022 was one of the main drivers of the latest crypto winter, which also played a part in the FTX collapse. Source: Courtlistener You might also like: Coinbase, Circle awarded crypto licenses in France ahead of MiCA The presiding judge in the Southern District of New York, Jed Rakoff, ratified a protective order today. This order stipulates that both parties are restricted from publicly disclosing confidential materials. Additionally, the court will seal discovery documents tagged as confidential until the commencement of the trial . Judge Rakoff indicated a low probabilit...