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The Securities and Exchange Commission (SEC) wants evidence from Terraform Labs’ co-founder.
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The U.S. regulators want to ask questions to upgrade their charges against Terraform and its former CEO.
The SEC said that they want to ask Shin about the Kwons’ role at Chai and also they want to know how Chai uses the Terra blockchain. They have granted the motion to seek assistance from South Korea to question Terraform Labs’ co-founder, Daniel Shin as it builds a case against the firm and its co-founder Do Kwon.
District Judge Jed Rakoff granted the SEC’s July 10, 2023 motion asking questions to seek the Terra co-founder along with requesting documents from the Seoul-based payments provider Chai Corporation he founded.
The firm also wanted to satisfy the query about why Chai separated from Terraform. Shin and Kwon founded Chai in 2019 and shared offices and staff with Terraform until the two firms split in 2020.
About Terraform Labs, Chai, and SEC
We współpracy z: https://www.thecoinrepublic.com/2023/08/18/sec-seeks-proof-of-terraform-labs-co-founder-daniel-shin-in-korea/
