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In a Wednesday status conference, the judge overseeing the Terraform Labs co-founder\u2019s case reportedly said he was \u201cmindful of the GENIUS Act.\u201d<\/p>\n
Terraform Labs co-founder Do Kwon, facing criminal charges in US federal court, could see a change in his indictment based on bills currently moving through the US Congress.<\/p>\n
According to reporting from Inner City Press, Kwon\u2019s lawyers and prosecutors met<\/a> for a status conference before Judge Paul Engelmayer in the US District Court for the Southern District of New York on Wednesday. The judge reportedly said he was \u201cmindful of the GENIUS Act,\u201d suggesting that it could impact Kwon\u2019s charges on securities fraud.\u00a0\u00a0<\/p>\n The GENIUS Act, or the Guiding and Establishing National Innovation for US Stablecoins, passed the US Senate on June 17, but still faces a possible vote in the House of Representatives before US President Donald Trump decides whether to sign the bill into law. The legislation, targeting regulations for payment stablecoins, could affect Kwon\u2019s charges related to the TerraUSD (UST) algorithmic stablecoin and the platform\u2019s LUNA token.\u00a0<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n