TechFlow news, according to CoinDesk, U.S. District Judge Jed Rakoff for the Southern District of New York ruled in a summary judgment that Terraform Labs violated federal securities laws by selling its cryptocurrencies to the public, illegally offering unregistered crypto securities LUNA and MIR.
The judge also blocked two other defense witnesses from testifying, one who would have addressed activities related to Terraform’s custodial wallets, and another who would have explained Terraform’s crypto-economic system to the jury.
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