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‘SEC failed to follow its own rule,’ Terraform CEO responds to SEC enforcement action
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It should have been a good month for Terraform Labs, as Terra’s LUNA has been rallying since November. However, some news on the legal front means the blockchain company could soon be in court.
The United States Securities and Exchange Commission [SEC] previously issued two subpoenas to Terraform Labs CEO Do Kwon. However, Kwon responded by suing the SEC for the way it served the documents.
On 12 November, however, the SEC stated it had filed an action against Terraform Labs and Kwon. This was to obtain an order which would force the company to comply with the regulator’s investigative subpoenas. The SEC further claimed that Terraform Labs and Kwon have not submitted any documents.
But Terraform Labs presented its side of the argument. The
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