2022-11-30 11:12 |
Arrest warrants were sought for Terraform Labs co-founder Daniel Shin, three investors and four engineers responsible for TerraUSD (UST) and LUNA initiatives. origin »
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This measure is intended to counteract the influx of spam and irrelevant proposals submitted for voting within the Terra Classic community.
The Terra Classic burn mechanism automatically burns tokens whenever a transaction occurs on the network.
The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities.
The indictment of 10 individuals associated with Terraform Labs, including co-founder Hyun-seong Shin, comes after 11 months of investigation into the collapse of Terra.
The law was approved by the Chamber of Deputies of Brazil but still requires the approval of the executive branch to be enacted.
Terraform Labs suggested that South Korean prosecutors may be 'overreaching their authority' arguing that Luna Classic isn't legally a security The post Terra Spokesman Argues ‘Luna Classic has Never Been a Security’ Amid Legal Trouble appeared first on BeInCrypto.