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The world's largest centralized cryptocurrency exchange by trading volume previously said that it has already "provided Korean [law enforcement] authorities with the requested assistance."
The bank has not yet released any statement on the matter, but a report claimed that the Swiss bank only acted based on an official court order.
"It is difficult to see Luna Coin as a financial investment product regulated by the Capital Markets Act," the court said.
Do Kwon's lawyers said that the lawsuit is an "improper attempt" by the SEC to regulate crypto using "outdated laws," even though Congress and the agency itself could not agree on what qualifies as a
It is not clear what records the U.S. SEC would like to get from Singapore, but the Singapore Monetary Authority has in its possession the files from the defendants of the Luna Foundation Guard.