In a fresh move exemplifying the global reach of the United States regulatory enforcement, the Securities and Exchange Commission (SEC) is again crossing international borders, this time to South Korea.

US District Judge Jed Rakoff has ruled that the SEC may enlist the South Korean government’s aid in its investigation into Terraform Labs and its co-founder Do Kwon.

The SEC Wants Terraform Labs’ Do Kwon

Do Kwon, former CEO of Terraform Labs, is serving a four-month sentence in Montenegro for traveling on a fake passport. Additionally, he faces criminal charges in both the United States and South Korea, along with an SEC lawsuit. Kwon and Terraform assert their innocence despite obliterating at least $40 billion in an illegal crypto scheme.

Remarkably, they did not oppose the SEC’s request for foreign assistance. Instead, they included their own demands for evidence to bolster their defense.

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Author: Bary Rahma

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