CryptoMediaClub
Sunday, July 6, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Altcoins

Terra Classic (LUNC) Not a Security as Per South Korean Court Ruling

25.04.2023
A A
0
125
VIEWS
ShareShare

Terra Classic (LUNC) Not a Security as Per South Korean Court Ruling

  • Prosecutors allegedly sought to take more than $100 million in Shin’s assets in November.
  • U.S. authorities disagree with the Korean court’s assessment that LUNC is not a security.

The South Korean Court has decided that Terra Classic (LUNC), the rebranded native token of the Terra network that spectacularly collapsed last year, is not a security.

Apparently, the Seoul Southern District Court found once again on February 16 that “it is difficult to see LUNC as a financial investment product regulated by The Capital Markets Act,” as reported by the local news portal Ilyo Shinmun today. The court made its decision on November 15; however, the news organization did not make either decision public until today.

According to the report, the court’s decision means that South Korean prosecutors will not be able to take any of Shin Hyun-Seung’s (aka Daniel Shin) assets.

U.S Regulators Disagree

For his part in the collapse of the Terra ecosystem, prosecutors allegedly sought to take more than $100 million in Shin’s assets in November. The assets must be restored to victims of the Terra collapse, hence the court has apparently denied the plea for forfeiture.

Prosecutors have twice sought a ruling from the Supreme Court of Korea (on March 20 and Apr. 14), but the court has yet to provide a ruling. On the other, Terraform Labs co-founder Do Kwon was arrested earlier in Montenegro and is facing documents forgery charges. Both the U.S. and South Korean authorities have requested extradition.

U.S. authorities disagree with the Korean court’s assessment that LUNC is not a security. The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Terraform Labs and its co-founder, Do Kwon, earlier this year for their roles in the collapse of the Terra tokens. Back in the day, LUNC was classified as crypto asset security by the SEC.

Share10Tweet6ShareSharePin2

Related Posts

Solana gains 80% in a month as Firedancer goes live on testnet
Altcoins

Solana gains 80% in a month as Firedancer goes live on testnet

02.11.2023
0

Solana (SOL) has posted 30-day gains of nearly 81%, and has rallied over 30% in the past week amid the...

Read moreDetails
Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

30.10.2023
Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

30.10.2023
Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

27.10.2023
FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?

FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?

27.10.2023
Load More
Next Post
Romania Launches In-house NFT Trading Marketplace

Romania Launches In-house NFT Trading Marketplace

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Crypto-friendly Vivek Ramaswamy Drops Out Of 2024 US Presidential Race

Crypto-friendly Vivek Ramaswamy Drops Out Of 2024 US Presidential Race

1 year ago
John Deaton’s Bullishness on XRP Despite Market Volatility and Litigation

John Deaton’s Bullishness on XRP Despite Market Volatility and Litigation

2 years ago
XRP Price Forecast: $77 Million Whale Accumulation Signals Strong Support at $0.52

XRP Price Forecast: $77 Million Whale Accumulation Signals Strong Support at $0.52

9 months ago
A recession is coming — Here’s how it’s fueling Bitcoin

A recession is coming — Here’s how it’s fueling Bitcoin

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin Price Prediction: Whispers of Satoshi After 80,000 BTC Move – Market Sentiment Shift?

Abstract and K-Pop Agency Modhaus Partner to Give Fans a ‘Real Seat at the Table’

$8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase’s Conor Grogan

XRP Price Prediction: Despite Recent Slip, Ripple’s Institutional Push Targets $10 – What to Watch

Ethereum Price Prediction: ETH Gains 4% This Week, Yet Golden Cross Flops – Is $3,000 Out of Reach?

Glassnode’s James Check Warns Bitcoin Treasury Boom Could Be Short-Lived

Trending

Ripple (XRP) Holders Achieve Financial Freedom by Starting Dogecoin (DOGE) Mining Machines through Blockchain Cloud Mining
All news

Ripple (XRP) Holders Achieve Financial Freedom by Starting Dogecoin (DOGE) Mining Machines through Blockchain Cloud Mining

06.07.2025
0

A cross-chain revolution of crypto assets, how to use XRP to open the passive income channel of...

PEPE Whales Accumulate Amid Market Volatility: Is a 200x Rally Coming?

PEPE Whales Accumulate Amid Market Volatility: Is a 200x Rally Coming?

06.07.2025
Bitcoin Cash Futures Jump 24% as Active Addresses Hit Six-Year Low – Risk Ahead?

Bitcoin Cash Futures Jump 24% as Active Addresses Hit Six-Year Low – Risk Ahead?

06.07.2025
Bitcoin Price Prediction: Whispers of Satoshi After 80,000 BTC Move – Market Sentiment Shift?

Bitcoin Price Prediction: Whispers of Satoshi After 80,000 BTC Move – Market Sentiment Shift?

06.07.2025
Abstract and K-Pop Agency Modhaus Partner to Give Fans a ‘Real Seat at the Table’

Abstract and K-Pop Agency Modhaus Partner to Give Fans a ‘Real Seat at the Table’

06.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz