SEC 针对 Terraform Labs 和 Do Kwon 的诉讼达成结案陈词

美国证券交易委员会针对 Terraform Labs 和 Do Kwon 提起的诉讼的最终辩论定于今天进行，由代表被告的大成律师事务所的辩护律师进行审理。 SEC 指控 Terraform 在 UST 和 Terra 区块链的稳定性方面误导了投资者，导致 2022 年价值 600 亿美元的 Terra-LUNA 危机。Terraform 的辩护称 SEC 的指控是基于断章取义的陈述和寻求举报人的有偏见的证人奖励。听证会即将结束，法官已向陪审团提供指示以指导他们的审议。

SEC Lawsuit against Terraform Labs and Do Kwon Nears Resolution

SEC 针对 Terraform Labs 和 Do Kwon 的诉讼接近解决

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.

美国证券交易委员会 (SEC) 针对 Terraform Labs (Terra) 及其联合创始人 Do Kwon 的诉讼备受期待的陪审团审判即将进入高潮。今天，来自全球大成律师事务所的辩护律师将在联邦法庭上进行结案陈词。

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.

美国证券交易委员会指控 Terraform Labs 和 Do Kwon 实施大规模欺诈，导致 Terra-LUNA 生态系统在 2022 年灾难性崩溃，给投资者造成数十亿美元的损失。该机构指控 Terraform 在算法稳定币 TerraUSD (UST) 的稳定性及其与移动支付应用程序 Daniel Shin 的 Chai Corp. 的关系方面误导了投资者。

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，辩护律师认为，美国证券交易委员会的主张是基于误解的陈述，并严重依赖有偏见的证人从诉讼中寻求经济回报。他们还认为，Terra 的区块链技术具有合法的应用，并且投资者对其潜力没有被误导。

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.

美国证券交易委员会正在寻求对 Terraform Labs 和 Do Kwon 处以巨额处罚、罚款和禁令，声称他们违反了联邦证券法。值得注意的是，Do Kwon 没有出席 3 月 25 日开始的陪审团审判，因为他面临黑山和韩国的引渡程序。

Judge's Jury Instructions

法官陪审团指示

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.

美国地区法官 Paul Rakoff 向陪审团提供了全面的指示，概述了 SEC 的诉讼和关键问题。一旦所有证据和结案陈词均已出示，这些详细指示将取代审判开始时给出的初步指示。

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.

在审判期间，SEC 提供了证据，指控 Do Kwon 和 Terraform Labs 参与了系统性的欺骗活动，包括秘密向公司外部转移资金、操纵 Terra 和 LUNA 的价格以及向投资者做出虚假陈述。

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 前通讯主管 Brian Curran 已出庭指控该公司，证实了 SEC 的说法，并揭露了 Terra 涉嫌误导性的做法。

Implications for the Cryptocurrency Industry

对加密货币行业的影响

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.

此次试验的结果对加密货币行业具有深远的影响。美国证券交易委员会的胜利可以加强对数字资产的监管并阻止未来的欺诈活动。相反，有利于 Terraform Labs 和 Do Kwon 的裁决可能会鼓励其他加密货币公司突破法律界限。

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.

陪审团的决定还将揭示美国证券交易委员会监管稳定币的方法，稳定币在加密货币生态系统中发挥着重要作用。美国证券交易委员会是否会对稳定币发行人和其他加密货币公司采取进一步的执法行动还有待观察。

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.

在陪审团准备审议之际，加密货币行业和投资者正在等待这一具有里程碑意义的案件的解决，该案件对该行业的数字资产和监管执法的未来具有重大影响。