{"id":572244,"date":"2022-06-09T13:36:49","date_gmt":"2022-06-09T12:36:49","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=572244"},"modified":"2022-06-09T13:44:23","modified_gmt":"2022-06-09T12:44:23","slug":"do-kwon-terraform-labs-sec-subpoenas","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/do-kwon-terraform-labs-sec-subpoenas\/","title":{"rendered":"Do Kwon and Terraform Labs Ordered To Answer SEC Subpoenas Over Unregistered Securities Involving Mirror Protocol"},"content":{"rendered":"\n
Summary:<\/p>\n\n\n\n
The US Federal Court of Appeal has ordered<\/a> Do Kwon and Terraform Labs to comply with subpoenas served by the Securities and Exchange Commission over investigations regarding unregistered securities claims.<\/p>\n\n\n\n According to a ruling on Wednesday affirmed by a panel of three judges, the SEC was within its jurisdiction when the agency filed a motion against the Terra founder and his company back in 2021.<\/p>\n\n\n\n Earlier in September 2021, the SEC served Do Kwon at the Messari crypto conference in New York. The agency said the probe was meant to determine if Terra\u2019s Mirror Protocol <\/a>violated federal securities laws.\u00a0<\/p>\n\n\n\n Mirror Protocol is decentralized finance (DeFi) marketplace launched in 2020 where users can mint and trade synthetic assets. These assets mirror the price of stocks, including assets traded on exchanges in the United States.<\/p>\n\n\n\n