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Terra CEO Ordered to Comply With SEC Subpoena Related to Mirror Protocol Investigation

Amy Liu

Summary: A New York judge ordered Terraform Labs and its CEO Do Kwon to comply with subpoenas the U.S. Securities and Exchange Commission (SEC) issued in its investigation of Terra’s Mirror Protocol, according to a filing dated Feb. 17. The Mirror Protocol is a decentralized finance (DeFi) platform that allows users to create and trade mAssets. ...

A New York judge ordered Terraform Labs and its CEO Do Kwon to comply with subpoenas the U.S. Securities and Exchange Commission (SEC) issued in its investigation of Terra’s Mirror Protocol, according to a filing dated Feb. 17. The Mirror Protocol is a decentralized finance (DeFi) platform that allows users to create and trade mAssets.

In December 2021, Terraform filed a motion 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. Terraform and Kwon sued the agency on claims that it violated its own rules and the Due Process clause of the U.S. Constitution in serving Kwon in September last year. 

By Amy Liu

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