The U.S. Securities and Exchange Commission (SEC) is utilizing a recent victory in its case against Terraform Labs to bolster its ongoing legal battles with major cryptocurrency exchanges Binance (CRYPTO: BNB) and Coinbase Global Inc. (NASDAQ: COIN)
In a legal document related to its lawsuit against Coinbase, the SEC cited a favorable judgment from the Southern District of New York regarding Terraform Labs.
This judgment concluded that UST, LUNA, wLUNA and MIR tokens are, in fact, securities.
"The Terraform court resolved in the SEC's favor issues relevant to the consideration of Defendants' motion in this case," the SEC stated, referencing Coinbase's previous request for a favorable judgment.
This latest submission is part of the SEC's strategy to counter Coinbase's ...