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FSC Official Paper: LUNA's Status as Securities Cannot Be Easily Dismissed, May 21

GateNews

Regulation & Policy

2026-05-21 07:02:09

LUNA1.18%

According to a paper published by the Financial Supervisory Commission (FSC) on May 21 in its official academic journal Financial Supervision Studies, senior FSC investigator Ahn Sang-hyun argues that LUNA's classification as investment contract securities cannot be easily dismissed. In his paper titled "Legal Issues of Investment Contract Securities and Supervisory Policy Implications," Ahn analyzed that LUNA holders could gain resale profits through trading, receive blockchain transaction fees while holding, or benefit from minting gains, characteristics meeting the requirements of investment contract securities. This analysis contrasts with South Korea's Seoul Southern District Court, which previously ruled that LUNA should not be treated as a capital market financial investment product, though U.S. authorities have recognized LUNA's securities status.

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