In the civil action brought against Kwon, the regulator failed to prove “personal jurisdiction” as products referenced by the SEC were “available to the world and not directed at U.S. persons,” a 47-page supporting document for a motion to dismiss the charges said. It also says that a digital asset involved in the case, the stablecoin UST, does not fall under the purview of the SEC as it is a currency and not a security.

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• Source: https://www.coindesk.com/policy/2023/04/24/terras-do-kwon-wants-sec-charges-dismissed-court-filings-show/?utm_medium=referral&utm_source=rss&utm_campaign=headlines