Do Kwon, Terra Claim SEC Violated Procedure in Ongoing Legal Fight

Posted on by American Coins & Gold

Do Kwon, Terra Claim SEC Violated Procedure in Ongoing Legal Fight
Terraform Labs and its CEO, Do Kwon, are challenging the U.S. Securities and Exchange Commission (SEC), claiming the regulator improperly served Kwon subpoenas at Mainnet 2021 despite not having jurisdiction over Kwon or his company. They have asked a New York court to dismiss the subpoenas.Terraform filed a motion last Friday opposing an SEC effort to compel Kwon and Terraform Labs to cooperate with subpoenas issued in the SEC’s ongoing investigation of Terra’s Mirror Protocol. The SEC filed its motion last month after Terraform and Kwon sued the agency on claims that it violated its own rules and the Due…