DeFi Firm Must Face Subpoenas From SEC, NY Judge Rules

By Katryna Perera (March 1, 2022, 4:26 PM EST) — A New York federal judge denied a decentralized finance company’s bid to continue pausing enforcement of investigative subpoenas filed against it by the U.S. Securities and Exchange Commission, saying he didn’t believe the company would prevail on the merits of its appeal that the subpoenas were improperly served.

U.S. District Judge J. Paul Oetken said in his order Tuesday there is no reason to further the 14-day stay the court previously issued on the SEC’s application for an order requiring Terraform Labs Pte. Ltd. and its CEO Do Kwon to comply with investigative subpoenas the commission had served them.

Judge Oetken…

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