SEC argues against Dentons' motion to dismiss Terraform and Do Kwon's lawsuit
Terraform and Do Kwon lawyers used a U.S. House hearing, Binance.US complaint and Hinman emails documents to dismiss the SEC lawsuit. The lawyers representing the United States Securities and Exchange Commission (SEC) have contended that the additional documents submitted by Dentons, the legal counsel for Terraform and Do Kwon, in support of their motion to dismiss the lawsuit , lack adequate support for dismiss ing the case. The SEC’s counsel asserts that the Binance.US transcript and internal SEC emails, presented by the defense, hold no relevance to the current case. They argue that the Howey Test clearly defines the parameters of an "investment contract" and contend that UST should be classified as a security. In a court hearing on June 15, Dentons submitted supplementary documents to bolster their motion to dismiss the lawsuit filed by the U.S. SEC. The focus of the hearing was to determine if the digital assets developed by Terraform Labs should be classified as secu...