The United States Securities and Exchange Commission (SEC) has doubled its investigation efforts on Terraform Labs by teaming up with the South Korean government to gather more evidence into Terraform Labs’ operations.
SEC And South Korea Against Terraform Labs
Terraform Labs, the company behind Terra blockchain and Terra USD stablecoin has been under scrutiny after investigations of its collapse revealed crypto market manipulation and fraudulent transactions.
Given the breadth of the case, the SEC has been granted a motion by District Judge Jed Rakoff to join forces with South Korea to probe further into Terraform Labs and question Daniel Shin, Terraform Labs’ Co-founder.
The decision to align with South Korea follows a recent report by Bloomberg which highlighted the SEC’s intention to gather valuable evidence from Chai Corp, a South Korean financial services company owned by Shin.
Shin founded Chai Corp in early…
