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Former CFTC Chairman: SEC Was 'Absolutely Right' to Sue Terraform Labs, Do Kwon

The U.S. Securities and Exchange Commission (SEC) is right to go after stablecoin issuer Terraform Labs and founder Do Kwon, said Timothy Massad, former chairman of the Commodity Futures Trading Commission (CFTC).

“They [the SEC] were absolutely right to make these charges,” Massad, now a research fellow at Harvard University’s Kennedy School of Government, said on CoinDesk TV’s “First Mover” on Friday.

“When you solicit people to invest in a token promising them a 19% to 20% return, that’s a security,” said Massad.

SEC CFTC Do Kwon
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