Terra: Lack of Regulation Create Uncertainty over Do Kwon Prosecution
South Korean Authorities are having trouble building a strong case against Terra founder Do Kwon. According to a report by Bloomberg, the lack of regulations is giving way to disputes on how the Terra tokens should be treated. Recently, the prosecutor’s office requested that a person connected to the Terraform Labs ecosystem be detained. However, the court denied their request. The judge ruled that it is still up for debate whether the defendant actually broke the South Korean Capital Markets Act, despite what the prosecutors claimed. The prosecution implied that it is working hard to prove the case, seemingly citing the cases’ challenges. The authorities insist that the lack of precise regulations does not imply that the investigations are over. Where is the Terra boss, Do Kwon? Terra chief, Kwon, is accused of violating the Capital Markets Act, although he denies any wrongdoing. Interpol, as well as local South Korean authorities, have an arrest warrant in Kwon...