Terraform Labs' lawyers push back against SEC, argue token sales were mostly outside US

Lawyers for Terraform Labs and Do Kwon pushed back against the SEC after the agency requested them to pay billions of dollars in fines.

Lawyers for Terraform Labs pushed back against the Sec urities and Exchange Commission after the agency requested them to pay billions of dollars in fines.

"... The SEC has submitted no evidence that Defendants’ limited activities in the U.S. directly caused any losses, much less the billions the SEC seeks in disgorgement," lawyers for Terraform said on Wednesday.

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