Terraform Labs and SEC reach agreement on confidentiality terms

On December 22, Judge Jed Rakoff of the Southern District of New York approved a protective order that requires Terraform Labs and the U.S. Securities and Exchange Commission (SEC) to keep certain documents confidential during the trial. The likelihood of approving the request to unseal these documents is low.

As previously reported by BlockBeats, on December 7, Terraform Labs applied to a New York judge this week, requesting that a jury decide whether its developed UST stablecoin and LUNA cryptocurrency are securities. The U.S. Securities and Exchange Commission (SEC) insists that the matter should be decided by a judge.