SEC files a lawsuit against the CEO of Terraform Labs, do Kwon, in relation to the Mirror Protocol-
SEC files a lawsuit against the CEO of Terraform Labs, do Kwon, in relation to the Mirror Protocol-
The United States Securities and Exchange Commission (SEC) has a lawsuit against Terraform Labs, the company behind the design of the Terra Blockchain, and its co-founder and CEO do Kwon. The SEC requested Kwon to meet a series of lectures that he has not dealt with. The investigative invitations are calling for Kwon's statement and the submission of documents from Terraform Labs
SEC goes against Terraform Labs and Do Kwon. before
The United States Securities and Exchange Commission (SEC) has taken the next step in its fight against Terraform Labs, the company behind Terra, and its co -founder and CEO do Kwon. According to a litigation release, the SEC an arrangement that the company is supposed to force a number of lectures that the sec an Kwon has transmitted to which he did not go into. According to the document, these lectures contain petitions for Kwons and also the creation of documents of Terraform Labs.
These measures are part of an examination that the SEC currently performs with regard to the Mirror Protocol, a protocol for synthetic assets with which users can trade with "mass"-token with price equivalents to shares that are traded on US floor. The SEC said that it had reason to assume that Terraform Labs and Do Kwon "took part in the creation, promotion and offer for the sale of mass and Mir token to US investors".
This would be a violation of US federal laws if securities are sold or offered without registering them as a non-licensed securities broker. However, the document says:
The SEC continues its investigative investigations and has not yet come to the conclusion that a natural or legal person has violated the federal securities laws.
Kwon's lawsuit is still running
The covered summons and the factors that surround their delivery are also launched in a Lament by do kwon. The documents were delivered to him while presenting Messaris Mainnet at a conference in the country. According to Kwon's legal assistance, the delivery of this summons was illegal because Kwon was publicly delivered to the summons.
This violates the SEC directive, which states that these procedures have to be carried out in a confidential manner, and many assistants were witnesses to the delivery. Kwon's file stated that he had been talking about the Mirror Protocol with the SEC for some time and that he was surprised by the actions.
What do you think of this new SEC campaign against Do Kwon and Terraform Labs? Tell us in the comment area below.
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