SEC wants court to consider Terraform ruling in Binance case

The Securities and Exchange Commission wants the court overseeing its case against Binance to consider the Terraform ruling.

In a notice of supplemental authority filed Wednesday, the SEC argued that the Terraform ruling — which found that UST, LUNA, wLUNA and MIR are all securities under the Howey test — is relevant to the Binance case because the SEC alleges that the stablecoin BUSD is a security. 

The SEC also points out that a prior motion to dismiss — filed by BAM Management and BAM Trading in September — cited Terraform. 

In the dismissal motion, BAM argues that,in the case of LUNA: “The money invested in Gram, Kin, or LUNA went to the promoter; the promoter undertook…

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