In a court ruling on Thursday, Dec. 28, a U.S. federal judge sided with the Securities and Exchange Commission (SEC) against Terraform Labs and its founder Do Kwon regarding the offering and sale of unregistered securities. The decision was handed down by U.S. District Judge Jed Rakoff in Manhattan, who also ruled in the SEC’s favor concerning security-based swaps, Reuters reported. Judge Rakoff did not grant summary judgment for either party on the SEC’s accusations of fraud. This aspect of the case is set to move forward to a trial, which is scheduled for Jan. 29, 2024. As of now, neither th…