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Paradigm Files Amicus Brief in US SEC Lawsuit Against Terra and Do Kwon

Crypto-focused investment firm Paradigm has filed an amicus brief in the US Securities and Exchange Commission (SEC) lawsuit against Terraform Labs and its co-founder Do Kwon. Paradigm claims that the SEC has misused its power to provide regulatory guidance and forced enforcement action against crypto firms for violating securities laws. The legal head of Paradigm, Rodrigo Seira, argues that the SEC's theory for treating stablecoins as securities would radically expand the definition of a security. Lawyers for Do Kwon have filed a motion to dismiss the charges against Terraform Labs and Do Kwon, claiming a lack of SEC jurisdiction over UST and that it is not a security.

(By Varinder Singh)

SEC Do Kwon
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