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SEC targeting ‘legitimized crypto institutions’ for ‘publicity,’ Terraform CEO retorts
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In an unprecedented move, major cryptocurrency company, Terraform Labs and its co-founder Do Kwon sued the SEC as per recent court filings. The co-founder was issued with a subpoena by the U.S. Securities and Exchange Commission (SEC) during a blockchain event last month.
In this regard the exec had said, that he understood the SEC’s apprehension towards products for which they might not have complete knowledge or enthusiasm. The subpoenas had been issued in relation to Terra’s synthetic asset-focused Mirror Protocol, which allows users to mint tokens that are pegged by the prices of actual stocks of companies like Apple and Tesla.
The co-founder argued that while he was ready to cooperate in educating the regulators, their hostility was a
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