Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Terraform Labs SEC Subpoenas Upheld by Federal Appeals Court

Terraform Labs SEC Subpoenas Upheld by Federal Appeals Court

Do Kwon, the chief executive officer of the Singapore-based corporation, was the subject of subpoenas issued by the Securities and Exchange Commission (SEC). A federal appeals court in New York upheld the subpoenas.

The Securities and Exchange Commission is investigating whether or not a blockchain technology known as Terraform’s Mirror Protocol violates any laws. One such legislation is the one that states it is illegal to offer securities that have not been registered.
Mirror Protocol provides phony copies of US equities and ETFs that are listed on US exchanges, such as Tesla and the Ark Innovation ETF. These stocks and ETFs are traded in the US.

Terraform said that the SEC violated its own policies when it served subpoenas on Kwon while he was attending a crypto conference in New York. Kwon was at the time participating in the conference.

About Humano

He is a freelance writer based in Turkey. He loves NFTs, football, film and technology.

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts

Leave a Reply

Your email address will not be published. Required fields are marked *