Many people pretty much everyone at this point has heard that do Kwon of course has been arrested in Montenegro and because of course he created Luna 2.0 and Terra linear classic.
This will have effects for our community One of the SEC’s motions that they filed very recently was saying that they’re planning to make the investors of Terra linear classic
Hole and they’re planning to charge do Kwon who was found in Montenegro with a falsified passport and many other false IDs Which of course is already a little bit shady so that really begs the question did do Kwon actually do some very bad things. I’m guessing these are things that we’re going to be finding out pretty soon Both all of that being said.
This is a stark reminder that having a legal representation at this current time is probably Important because worst case scenario. We do not want our current developers having any kind of legal liabilities.
And that of course be very bad for our chain of people who are working on it get pursued by the SEC. Nobody’s gonna want to work on Terra Luna classic and as we can see right here Terra Luna classic is dipping a little bit following a lot of this news and some general cryptocurrency movements as well.
But with that being said as things can get a lot worse if we don’t address these problems. And that’s why I’m making today’s video, but luckily we do have a great team of Developers and just people working inside of our community that are finding a number of amazing different proposals in order to deal with these problems Proactively and as we can see on screen right here.
Edward Kim very recently put out a gora post which will soon be a proposal that will be brought to Terra Luna classic Governance for a legal representation for the terra classic doubt now.
- Crypto bros if you’d like to check that out, but a brief summary is essentially
- We want to have a legal structure for Terra Luna classic.
- We want to have lawyers on retainer to deal with legal issues that do come up.
And we also want to make sure that the head office the jurisdiction that we’re operating within Is friendly towards cryptocurrency because right now as it stands the United States of America is extremely uncertain.
When it comes to cryptocurrency and because currently the Terra grounds Foundation is operating in the United States is where the office is located It’s in our best interest to change that and also of course I have lawyers who can give us legal advice so that we’re not going ahead and well running into any more problems, right?
So with all that being said we can see that there is a lot going on here a lot of people are commenting on this I’m going to go over the most important points here.
So we can see that this proposal has gotten very mixed feedback. Some people are extremely critical this proposal saying that it’s a waste of resources
That is just about trying to cover the tracks of a very few amount of people and that maybe you know This is not great for Terra Luna classic as a whole now
I’m not gonna get into the specifics of who said what and you know.
What’s going on exactly in these comment sections and I will say there is positive comments as well.
But one thing I do want to make very clear is that we’re not going to see developers come and work on Terra Luna classic with the amount of uncertainty.
That we currently have if there’s any legal implication of developing on a terra Luna classic and this could potentially get you put in jail.
Like what’s happening? Of course with do quan. Well, I mean, yeah, anyone in the right mind probably would not want to work on a said.
- Project right and of course with Terra Luna classic
It just makes sense to cover our tracks and make sure that people are safe and secure to work for this project.
Of course, we don’t know exactly what’s going on with do quan. We don’t know exactly what he’s did
All we’re knowing is that he’s currently being extradited to South Korea on a number of different charges in relation to Terra Luna classic.
Allegedly, you know, he has done many different acts that have caused Investors a lot of money and we don’t know what those acts are Specifically, but I’m sure as time progresses and the court goes through and you know, the case of proceeds.
We will see most likely what’s going on there, but until that time I think it does make sense to have proper legal representation.
That is my two cents not everyone’s going to agree with that.
But frankly we need developers working on Terra Luna classic to continue moving forward and some people are trying to take this current
Opportunity to try and tear apart Terra Luna classic because of course.
That’s what people will do to try to benefit themselves at times like this
But with all of that being said guys.
- Terra Luna classic still has a great future as long as we continue working together and finding solutions and being proactive all at the same time.
- And right now, is a very uncertain time for the entire crypto industry I want to remind you guys that Coinbase is getting sued the SEC and the XRP case is getting more attention than ever and crypto is Currently getting the SEC just going after it from every single angle.
- So Terra Luna classic is not alone in this but what we have to do right now is we have to stand together.
- We have to stand for our rights as investors as people who believe in cryptocurrency.
Dows and the technology behind everything that we’re using here today.
And we have to make sure that we don’t split apart right now because that is what the SEC and these other large entities are trying to do.
They’re trying to make sure that we get separated and that we don’t stand for what we believe in and we just take the easy road out And that’s not what we’re all about here in cryptocurrency.
I want to mention that cremation coin cream at a dot IO has recently reduced their taxes on all transactions.
So that we’re most likely going to be seeing more volume coming in do this amazing coin and community.
So, if you guys currently do not have any cremation coin feel free to get in and purchase some you can go ahead and help.
Vetera Luna Classic burn help us get the price up which would be absolutely phenomenal.