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Prosecutors in Terra-Luna crash trial use Ripple and XRP legal battle to support their case

Prosecutors in the Terra-Luna crash trial are using the Ripple and XRP legal battle as evidence to support their case. They have obtained a translated Ripple-related judgment from a US court which confirms that XRP was deemed a security when sold to institutional investors. This challenges the assertion that Luna Coin cannot be considered a security under Korean law. Prosecutors also intend to submit a ruling from a federal court in New York which categorizes virtual currencies as securities, regardless of their method of sale. The distinction between Ripple/XRP and Luna Coin lies in their profit-sharing mechanisms, with Luna Coin's commitment to share profits potentially classifying it as a security.

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