Securities Laws

SEC Files Action Against Terraform Labs CEO Do Kwon Regarding Mirror Protocol

The United States Securities and Exchange Commission (SEC) has introduced an action against Terraform Labs, the company behind the design of the Terra blockchain, and its co-founder and CEO Do Kwon. The SEC is seeking an order for Kwon to comply with a series of subpoenas he has failed to address. The investigative subpoenas seek Kwon’s testimony and the production of documents from Terraform Labs SEC Acts Against Terraform Labs and Do Kwon The United States Securities and Exchange Commission (SEC) has taken the next step in its battle against

Bitwise withdraws its application for a bitcoin futures ETF.

Cryptocurrency firm Bitwise has withdrawn its bitcoin futures ETF application, according to Bitwise CIO Matt Hougan, who announced on Twitter. However, the spot filing remains in play and competes with several other applications for the United States Securities and Exchange Commission’s (SEC) attention. Hougan explained the withdrawal, which on the whole comes down to spot ETFs being better for long-term investors and the costs associated with futures ETFs.  1/ Today, @BitwiseInvest withdrew its application to list a bitcoin *futures* ETF. (Our spot filing remains.) Thought I’d share our thinking. A

Token Launches From Ethereum to Telegram: Where Do We Go From Here?

In February, United States Securities and Exchange Commission Commissioner Hester Peirce was asked to give her opinion on the SEC’s case against Telegram. She declined to comment at the time, as SEC officials do not speak publicly about ongoing enforcement actions. In late July, however, with the Telegram case settled, Commissioner Peirce gave a speech titled “Not Braking and Breaking” that pointedly questioned the approach taken by the SEC in the Telegram case. Concluding her remarks, Commissioner Peirce asked:“Who did we protect by bringing this action? The initial purchasers, who