Terraform Labs will ban US users and withdraw $23.8 million in LUNA liquidity from three platforms

According to a court ruling by the US SEC against Terraform Labs (TFL), the company announced adjustments to its business. TFL stated that it expects to receive a cease and desist order soon, prohibiting certain activities in the US. The company added that it will prepare for the order and will prohibit US users from accessing some products and features starting from the week of April 28. TFL called this development "disappointing" and said it is "principally opposed to geo-blocking," but has no choice but to adapt. This policy change will not affect some projects, including Alliance (an open-source Cosmos SDK module) and the Terra blockchain itself. Due to the order, TFL will also withdraw $23.8 million worth of LUNA liquidity from three platforms (Astroport, Ura, and White Whale) starting on April 26 and will store the withdrawn LUNA in a multi-signature account through bankruptcy proceedings. (Crypto Slate) Previously, after a jury ruled that Terraform Labs and Do Kwon were responsible for civil fraud charges in a lawsuit brought by the US SEC, the SEC filed a motion demanding that they surrender $5.3 billion in illegal gains and civil fines.