Terra's Do Kwon Was Served by SEC, New Lawsuit Shows


Stephen Palley was quoted October 23 in a Coindesk article.

Terraform Labs CEO Do Kwon is suing the U.S. Securities and Exchange Commission (SEC).

The builder of decentralized finance (DeFi) platform Terra confirmed he was served with an SEC subpoena at Messari’s Mainnet conference last month, according to a lawsuit filed Friday by both Kwon and Terraform Labs.

Terraform’s lawsuit against the SEC is unusual but, according to Anderson Kill lawyer Stephen Palley, preemptive legal action might make sense in this case.

“It’s a reminder to regulators that there are rules of engagement that they need to abide by as well,” Palley told CoinDesk.

Read the full article on Coindesk.