2 years ago
A U.S. District Court justice successful New York ordered Terraform Labs and its CEO Do Kwon to comply with subpoenas the U.S. Securities and Exchange Commission (SEC) issued successful its probe of Terra’s Mirror Protocol, according to a filing dated Feb. 17.
Terraform filed a motion successful December opposing a Securities and Exchange Commission effort to compel Kwon and Terraform Labs to cooperate with subpoenas issued successful the SEC’s ongoing probe of Terra’s Mirror Protocol. Terraform and Kwon sued the bureau connected claims that it violated its ain rules and the Due Process clause of the U.S. Constitution successful serving Kwon successful September.
The Mirror Protocol is simply a decentralized concern (DeFi) level that allows users to make and commercialized “mirrored assets,” oregon mAssets, that “mirror” the terms of stocks – including large stocks traded connected U.S. exchanges.
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Greg Ahlstrand is CoinDesk's Asia News Editor. Greg has nary important crypto holdings.
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