The SEC is reportedly investigating whether Terraform Labs broke securities laws before the collapse of $UST. terra terrausd dokwon
from the SEC over the Mirror Protocol. In a ruling Wednesday, Terraform Labs and CEO Kwon were ordered to comply with the SEC’s subpoenas filed in February. Kwon’s appeal has been rejected by the court.
Regarding the investigation by the SEC, the Singapore-based Terraform Labs told the news outlet that it was not aware of an SEC investigation into UST. “We are not aware of any SEC probes into Terrausd at this time – we’ve received no such communication from the SEC and are aware of no new investigation outside of that involving Mirror Protocol,” Kwon said.in the U.S. They said it’s more likely for him to face civil charges and regulatory penalties.
In South Korea, where Kwon is from, the government has launched an investigation into the collapse of terra and terrausd. A class-action lawsuit has also been filed against Terraform Labs, Kwon, and another co-founder. Furthermore, Seoul police are investigating whether Terraform Labs staff embezzled the company’s bitcoin.it days before the collapse of UST and LUNA.
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