Terra creator Do Kwon reportedly arrested at Montenegro airport
TechCrunchJUL 2023
The Securities and Exchange Commission has a strong case against Kwon and Terraform Lab for misrepresenting the risk of TerraUSD and misleading US investors, who purchased billions of dollars of the digital assets, wiping out their savings and igniting the "crypto winter." Not only should Kwon be held accountable, but more importantly, financial regulators must clean up the cryptocurrency market by way of stricter regulations.
If found guilty, Kwon should undoubtedly be held accountable, however, one bad apple isn't indicative of an entire industry and this shouldn't be used to push the case for crypto regulation — a policy based on fear. Such a move will only hurt innovation and come at the expense of crypto companies that will have to foot the bill to accommodate new rules.