A South Korean District Courtroom has dismissed the arrest warrant issued in opposition to the Head of Basic Affairs at Terraform Labs Yoo Mo, in line with native information Yonhap.
Yoo Mo, who doubled as Do Kwon’s aide, was reportedly arrested within the early hours of Oct. 6, following an arrest warrant issued on Oct. 5.
Mo was accused of utilizing bots to inflate the costs of the LUNA token, in addition to violating the Capital Market Act.
Decide Jin-pyo argued that Mo might not have violated the Capital Market Act, as LUNA has not been labeled as a safety below South Korean regulation.
“There appears to be room for authorized dispute over whether or not the LUNA coin is an funding contract safety below the Capital Market Act.”
After interrogating Do Kwon’s aide, Decide Jin-pyo moved to dismiss the arrest warrant in opposition to him saying “it’s tough to see the need and significance of the arrest.”
