Terraform Labs lawyers propose $1 million fine in SEC case

The US Securities and Exchange Commission (SEC) has demanded that Terraform Labs and its co-founder Do Kwon pay a fine of $530 million and be subject to civil penalties. Terraform Labs' legal representatives have filed a motion opposing this. In a document submitted to the US Southern District Court of New York on April 26, Terraform's legal team suggested that the court impose a civil penalty of up to $1 million after the jury ruled that the platform and Kwon were responsible for fraud.