A South Korean District Courtroom has dismissed the arrest warrant issued in opposition to the Head of Common Affairs at Terraform Labs Yoo Mo, in response to 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 could not have violated the Capital Market Act, as LUNA has not been categorised as a safety below South Korean legislation.
“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 troublesome to see the need and significance of the arrest.”
