Terraform Labs (TFL) announced operational changes in the latest court ruling against the SEC lawsuit. TFL said it expects to receive a conduct injunction soon prohibiting it from carrying out certain activities in the United States.
The company plans to ban U.S. users from accessing some products and features starting April 28, and this policy change will not affect some projects, including the open-source Cosmos SDK Module Alliance and the Terra blockchain itself.
The company said it would begin withdrawing $23.80 million worth of LUNA liquidity on three platforms, Astroport, Ura and White Whale, on April 26.
Previously, the SEC requested various injunctions against Terraform Labs on April 19 and demanded a $5.30 billion fine.
Terraform Labs to Restrict Access to Some Products and Withdraw 23 million Dollar LUNA Liquidity
2024-04-26 05:59:25
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