SEC Slams DeFi Firm’s Bid To Stay Subpoenas – Law360

SEC Slams DeFi Firm’s Bid To Stay Subpoenas – Law360

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By Sarah Jarvis (February 25, 2022, 4:48 PM EST) — The U.S. Securities and Exchange Commission has urged a federal judge not to pause the enforcement of investigatory subpoenas it filed against a decentralized-finance company and its CEO, saying the company isn’t likely to win its appeal that the subpoenas were improperly served.

The SEC said in a letter response filed on Thursday that an appeal from Terraform Labs Pte. Ltd. and its CEO Do Kwon — in which Kwon alleges that the SEC violated its own regulations when it attempted to serve him in person at a cryptocurrency summit — will likely fail on appeal. For that reason, among others,…

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