Do Kwon of Terra Loses Appeal to Stop SEC Subpoena Regarding Mirror Protocol!

Do Kwon was unsuccessful in his attempt to prevent the Securities and Exchange Commission from honoring subpoenas. The SEC is investigating the Mirror Protocol, a decentralized money network. Kwon was first served by the SEC in September 2021, while in the United States for a cryptocurrency conference in New York. The four-judge bench upheld the lower court's decisions, finding that the regulatory agency served Kwon and his firm Terraform Labs. Kwon's Terraform Labs is accused of laundering $4.8 million through a South Korean shell company. Following Terra's death, Kwon has been accused of fraud in his management of the Mirror protocol.