SEC 針對 Terraform Labs 和 Do Kwon 的訴訟達成結案陳詞

美國證券交易委員會針對 Terraform Labs 和 Do Kwon 提起的訴訟的最終辯論定於今天進行，由代表被告的大成律師事務所的辯護律師進行審理。 SEC 指控Terraform 在UST 和Terra 區塊鏈的穩定性方面誤導了投資者，導致2022 年價值600 億美元的Terra-LUNA 危機。Terraform 的辯護稱SEC 的指控是基於斷章取義的陳述和尋求舉報人的有偏見的證人獎勵。聽證會即將結束，法官已向陪審團提供指示以指導他們的審議。

SEC Lawsuit against Terraform Labs and Do Kwon Nears Resolution

SEC 針對 Terraform Labs 和 Do Kwon 的訴訟接近解決

The highly anticipated jury trial in the Securities and Exchange Commission (SEC) lawsuit against Terraform Labs (Terra) and its co-founder, Do Kwon, is approaching its culmination. Today, defense attorneys from the global law firm Dentons will present their closing arguments in the federal courtroom.

美國證券交易委員會 (SEC) 針對 Terraform Labs (Terra) 及其聯合創始人 Do Kwon 的訴訟備受期待的陪審團審判即將進入高潮。今天，來自全球大成律師事務所的辯護律師將在聯邦法庭上進行結案陳詞。

The SEC has accused Terraform Labs and Do Kwon of perpetrating a massive fraud that led to the catastrophic collapse of the Terra-LUNA ecosystem in 2022, resulting in billions of dollars in losses for investors. The agency alleges that Terraform misled investors about the stability of TerraUSD (UST), an algorithmic stablecoin, and its relationship with Daniel Shin's Chai Corp., a mobile payment app.

美國證券交易委員會指控 Terraform Labs 和 Do Kwon 實施大規模欺詐，導致 Terra-LUNA 生態系統在 2022 年災難性崩潰，給投資者造成數十億美元的損失。該機構指控 Terraform 在演算法穩定幣 TerraUSD (UST) 的穩定性及其與行動支付應用程式 Daniel Shin 的 Chai Corp. 的關係方面誤導了投資者。

Defense attorneys, however, contend that the SEC's claims are based on misconstrued statements and rely heavily on biased witnesses seeking financial rewards from the lawsuit. They have also argued that Terra's blockchain technology had legitimate applications and that investors were not misled about its potential.

然而，辯護律師認為，美國證券交易委員會的主張是基於誤解的陳述，並嚴重依賴有偏見的證人從訴訟中尋求經濟回報。他們還認為，Terra 的區塊鏈技術具有合法的應用，並且投資者對其潛力沒有被誤導。

The SEC is seeking significant penalties, fines, and injunctions against Terraform Labs and Do Kwon, claiming that they violated federal securities laws. Notably, Do Kwon has not attended the jury trial, which commenced on March 25, as he faces extradition proceedings from Montenegro and South Korea.

美國證券交易委員會正在尋求對 Terraform Labs 和 Do Kwon 處以巨額處罰、罰款和禁令，聲稱他們違反了聯邦證券法。值得注意的是，Do Kwon 沒有出席 3 月 25 日開始的陪審團審判，因為他面臨黑山和韓國的引渡程序。

Judge's Jury Instructions

法官陪審團指示

U.S. District Judge Paul Rakoff has provided the jury with comprehensive instructions outlining the SEC's lawsuit and the key issues at stake. These detailed instructions will supersede the preliminary instructions given at the outset of the trial, once all evidence and closing arguments have been presented.

美國地區法官 Paul Rakoff 向陪審團提供了全面的指示，概述了 SEC 的訴訟和關鍵問題。一旦所有證據和結案陳詞均已出示，這些詳細指示將取代審判開始時給出的初步指示。

During the trial, the SEC has presented evidence alleging that Do Kwon and Terraform Labs engaged in a systematic campaign of deception, including secretly transferring funds outside the company, manipulating the prices of Terra and LUNA, and making false statements to investors.

在審判期間，SEC 提供了證據，指控 Do Kwon 和 Terraform Labs 參與了系統性的欺騙活動，包括秘密向公司外部轉移資金、操縱 Terra 和 LUNA 的價格以及向投資者做出虛假陳述。

Brian Curran, the former head of communications at Terraform Labs, has testified against the company, corroborating the SEC's claims and exposing Terra's alleged misleading practices.

Terraform Labs 前通訊主管 Brian Curran 已出庭指控該公司，證實了 SEC 的說法，並揭露了 Terra 涉嫌誤導性的做法。

Implications for the Cryptocurrency Industry

對加密貨幣產業的影響

The outcome of this trial has far-reaching implications for the cryptocurrency industry. A victory for the SEC could strengthen regulatory oversight of digital assets and deter future fraudulent activities. Conversely, a ruling in favor of Terraform Labs and Do Kwon could embolden other cryptocurrency companies to push the boundaries of the law.

此次試驗的結果對加密貨幣產業有深遠的影響。美國證券交易委員會的勝利可以加強對數位資產的監管並阻止未來的詐欺活動。相反，有利於 Terraform Labs 和 Do Kwon 的裁決可能會鼓勵其他加密貨幣公司突破法律界限。

The jury's decision will also shed light on the SEC's approach to regulating stablecoins, which play a significant role in the cryptocurrency ecosystem. It remains to be seen whether the SEC will pursue further enforcement actions against stablecoin issuers and other cryptocurrency firms.

陪審團的決定也將揭示美國證券交易委員會監管穩定幣的方法，穩定幣在加密貨幣生態系統中發揮重要作用。美國證券交易委員會是否會對穩定幣發行人和其他加密貨幣公司採取進一步的執法行動還有待觀察。

As the jury prepares to deliberate, the cryptocurrency industry and investors await the resolution of this landmark case, which has significant implications for the future of digital assets and regulatory enforcement in the sector.

在陪審團準備審議之際，加密貨幣行業和投資者正在等待這一具有里程碑意義的案件的解決，該案件對該行業的數位資產和監管執法的未來具有重大影響。