The US SEC, headed by Gary Gensler, continues to make strange scenes around cryptocurrencies and send the crypto world into a tizzy; this time it is charging Do Kwon of the Terra Scam.
This step can be said to be a good one, but depending on the time and circumstances, it is not.
The SEC's claim is not new.
The SEC claims that Do Kwon transferred over 10k bitcoins from Luna and converted them into cash through Swiss bank. SEC is not wrong, but it is not right either, because SEC does not have data or records. All this Fat Man Terra has already told the world, and SEC is repeating the same.
Is this a ploy by the SEC?
The US crypto community is already upset with the SEC. Recently, there has been an uproar in the crypto world after the SEC declared staking services to be securities. The behaviour of the SEC has also created problems in the market, and the SEC has come under a lot of criticism. So it looks like the charge against Do Kwon by the SEC is just to save its tarnished image.
What is the guarantee of this charge sheet?
The SEC once allowed Do Kwon to leave the US. Now he is wanted by South Korea, and Interpol is behind him. Do Kwon doesn't even have a valid passport, so it's hard for the SEC to prosecute him in court.
