Jump Trading subsidiary Tai Mo Shan agrees to pay approximately $123 million to settle with the U.S. SEC

PANews reported on December 21 that the U.S. Securities and Exchange Commission (SEC) accused Tai Mo Shan, a wholly-owned subsidiary of Jump Trading, of misleading investors about the stability of Terra USD (UST), a so-called "algorithmic stablecoin" issued by Terraform Labs PTE Ltd. (Terraform). The Commission also accused Tai Mo Shan of acting as a legal underwriter, issuing and selling securities in unregistered transactions, and LUNA is a crypto asset issued by Terraform, which was issued and sold as a security.

As part of the settlement, Tai Mo Shan agreed to pay $73,452,756 in disgorgement, $12,916,153 in prejudgment interest, and a civil penalty of $36,726,378. Tai Mo Shan neither admitted nor denied the SEC’s findings and agreed to cease and desist from registration and fraud violations.