.SECGov is reportedly investigating Terra’s failed $UST stablecoin
The securities watchdog is working to determine if Terraform Labs, the developer of the failed blockchain, violated federal investor protection rules.
Terraform Labs isn’t aware of an investigation into Terra’s LUNA cryptocurrency. On Wednesday, Terra co-founder Do Kwon lost an appeal to block the agency’s subpoenas over another ongoing investigation into the Mirror Protocol. Kwon was served by the SEC right in the middle of a cryptocurrency conference last November. The SEC was investigating whether or not the, which allows issuing synthetic assets representing stocks of major companies, violated securities laws.
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