According to Foresight News, Terraform Labs lawyer David Kornblau has written a letter to New York District Judge Jed Rakoff, requesting that the judge allow a jury to determine whether UST and LUNA tokens are securities. Kornblau stated that the jury should decide if the U.S. Securities and Exchange Commission (SEC) has fulfilled its responsibility to prove that UST, LUNA, and MIR tokens are securities.
Foresight News noted that in February this year, the SEC filed a lawsuit against Terraform Labs and its co-founder Do Kwon, accusing them of raising billions of dollars from investors by 'offering and selling a suite of interrelated crypto asset securities, many of which were unregistered transactions'.
