SEC insists on U.S. deposition for detained Terraform Labs co-founder Do Kwon

The Securities and Exchange Commission (SEC) is seeking to depose Terraform Labs co-founder Do Kwon successful the U.S. by Oct. 13, according to a legal filing reviewed by CryptoSlate. This comes contempt Kwon presently being detained successful Montenegro pending imaginable extradition.

Kwon’s ineligible squad argues it is intolerable for him to look for a deposition successful the U.S., fixed his detention abroad. They person projected the SEC depose Kwon successful Montenegro per their anterior request. However, the SEC has rejected this and insists connected mounting a U.S. deposition day earlier the find cutoff contempt Kwon’s circumstances.

The filing states the SEC did not disclose its intent to announcement a U.S. deposition to the tribunal oregon Kwon’s counsel. It besides alleges the SEC misrepresented Kwon’s refusal to beryllium deposed erstwhile helium did not reason their anterior deposition petition via a missive to Montenegro.

Additionally, Kwon’s lawyers reason the SEC’s alternate petition to preclude Kwon from submitting grounds should beryllium denied. They accidental this violates tribunal rules arsenic the SEC did not get beforehand support to question specified relief.

Overall, the filing urges denial of the SEC’s question connected grounds it is presently intolerable for Kwon to look successful the U.S. and their different requests are improper oregon premature per tribunal rules.

The high-profile ineligible conflict betwixt the SEC and Kwon has been intimately watched aft the spectacular collapse of TerraUSD and Luna past year. However, Kwon’s detention overseas has analyzable the U.S. proceedings pending solution of his extradition case.

The station SEC insists connected U.S. deposition for detained Terraform Labs co-founder Do Kwon appeared archetypal connected CryptoSlate.