According to a petition dated Feb. 17, a New York judge ordered Terraform Labs and its CEO Do Kwon to cooperate with subpoenas issued by the US Securities and Exchange Commission (SEC) in its investigation of Terra’s Mirror Protocol.
In December 2021, Terraform filed a motion contesting an SEC effort to force Kwon and Terraform Labs to cooperate with subpoenas issued in the SEC’s continuing examination of Terra’s Mirror Protocol. Terraform and Kwon filed a lawsuit against the agency in September last year, alleging that it violated its own guidelines as well as the Due Process provision of the United States Constitution in serving Kwon.
The Mirror Protocol is a decentralized finance (DeFi) platform that lets users produce and trade “mirrored assets,” or mAssets, that “reflect” stock prices, including major equities listed on US exchanges.
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