韩国最高法院裁定Terrausd（USTC）和Luna不是金融投资产品

韩国最高法院裁定，倒塌的Stablecoin Terrausd（USTC）及其姐妹代币Terra（Luna）不是金融投资产品

South Korea’s Supreme Court has ruled that the collapsed stablecoin TerraUSD (USTC) and its sister token Terra (LUNA) are not financial investment products, upholding earlier decisions and rejecting a prosecution appeal, Korean newspaper Etoday reports.

韩国报纸报道，韩国最高法院裁定，倒塌的Stablecoin Terrausd（USTC）及其姐姐令牌Terra（Luna）不是金融投资产品，坚持以前的决定并拒绝起诉上诉。

On Jan. 23, the court also rejected prosecutors’ request to seize assets from Terraform Labs co-founder Shin Hyun-seong. The court agreed with lower courts that had already ruled LUNA does not qualify as a regulated financial product under Korea’s Capital Markets Act, stating that “related law and records show the lower court’s decision is valid.”

1月23日，法院还驳回了检察官要求从Terraform Labs联合创始人Shin Hyun-Seong夺取资产的请求。法院与已经裁定卢娜（Luna）的下级法院同意，根据韩国的《资本市场法》，没有资格为受监管的金融产品，并指出：“相关法律和记录表明，下级法院的裁决是有效的。”

Prosecutors argued that LUNA was some sort of security and tried to confiscate Shin’s assets, claiming he made illegal profits. However, courts have repeatedly ruled that LUNA does not meet the legal definition of a security or financial investment product.

检察官辩称，卢娜（Luna）是某种保障，并试图没收申恩（Shin）的资产，声称他获得了非法利润。但是，法院一再裁定露娜不符合安全或金融投资产品的法律定义。

Capital Markets Act does not apply

资本市场法案不适用

Lawyer Kim Jung-chul from Law Firm Woori said the ruling does not just dismiss LUNA’s security status, but also “confirms that the Capital Markets Act does not apply, meaning asset seizure based on that law is not possible.”

律师事务所Woori的律师Kim Jung-Chul表示，该裁决不仅驳回了Luna的安全状况，而且还确认“ Capital Markets Act不适用，这意味着基于该法律的资产扣押是不可能的。”

Despite the ruling, Shin and other Terraform executives still face fraud charges. Prosecutors allege that they misled investors and manipulated the market to profit from the Terra blockchain.

尽管采取了裁决，但Shin和其他Terraform高管仍然面临欺诈指控。检察官声称他们误导了投资者，并操纵了市场以从Terra区块链中获利。

Do Kwon, the key figure behind Terra, was extradited from Montenegro and appeared in a Manhattan court in January on federal fraud charges. A U.S. grand jury indicted Kwon for inflating Terraform’s crypto prices and laundering funds. The collapse of Terra in May 2022 wiped out over $40 billion, causing major losses for investors worldwide.

Terra背后的关键人物Do Kwon被从黑山引渡，并于1月以联邦欺诈指控出现在曼哈顿法院。美国大陪审团起诉权夸大了Terraform的加密价格和洗钱资金。 Terra在2022年5月的崩溃中消失了超过400亿美元，造成了全球投资者的重大损失。