SEC Seeks To Enforce Contested Subpoenas Against DeFi Biz

By Elise Hansen (November 12, 2021, 8:57 PM EST) — The U.S. Securities and Exchange Commission said Friday it’s suing to enforce its subpoenas against decentralized finance company Terraform Labs and its executive, who is challenging the subpoenas because they were served at a cryptocurrency summit.

The SEC asked a New York federal court to require Terraform Labs Pte Ltd. and Do Kwon, Terraform’s co-founder and CEO, to comply with investigative subpoenas about Terraform’s operations. Terraform Labs has a so-called Mirror Protocol that allows users to create and trade digital assets that “mirror” the price of U.S. securities, according to the SEC.

The agency said it’s seeking to determine whether the company…

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