Do Kwon of Terra Loses Appeal to Stop SEC Subpoena Regarding Mirror Protocol!
2 years ago
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Do Kwon was unsuccessful in his attempt to prevent the Securities and Exchange Commission from honoring subpoenas. The SEC is investigating the Mirror Protocol, a decentralized money network. Kwon was first served by the SEC in September 2021, while in the United States for a cryptocurrency conference in New York. The four-judge bench upheld the lower court's decisions, finding that the regulatory agency served Kwon and his firm Terraform Labs. Kwon's Terraform Labs is accused of laundering $4.8 million through a South Korean shell company. Following Terra's death, Kwon has been accused of fraud in his management of the Mirror protocol.
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