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<ul> 
 <li>SEC collaborates with South Korean counterparts to investigate Terraform Labs and Chai Corp.</li> 
 <li>Allegations hint at a $40 billion loss, with Do Kwon facing multiple legal challenges.</li> 
 <li>Despite the accusations, Terraform Labs actively cooperates, providing necessary evidence for the defense.</li> 
</ul> 
The US Securities and Exchange Commission (SEC) is intensifying its probe into Terraform Labs, joining forces with South Korean regulators, <a href="https://www.bloomberg.com/news/articles/2023-08-17/sec-seeks-to-question-do-kwon-s-terra-co-founder-in-south-korea#xj4y7vzkg" rel="noopener noreferrer nofollow">Bloomberg reports</a>. Central to this investigation are allegations against Terraform Labs’ co-founder, Daniel Shin, and the significant payments firm, Chai Corp. The SEC’s mission is clear: gather concrete evidence against Terraform Labs and its ex-leader, Do Kwon, over claims of a massive $40 billion cryptocurrency loss. 
Supporting this international inquiry, Judge Jed Rakoff has authorized the use of a decades-old treaty, facilitating the smooth collection of vital evidence across borders. Do Kwon, currently detained in Montenegro on passport forgery charges, faces mounting legal challenges not just in the US but also in South Korea. Despite these accusations, Terraform Labs has been cooperative, supplying the SEC with the requested evidence. 
While Terraform Labs denies any misconduct, the situation became murkier when Daniel Shin faced charges in South Korea earlier this year. The undeniable historical link between Terraform Labs and Chai Corp, both co-founded by Kwon and Shin, adds another layer to this intricate tale. 
In spite of the controversies surrounding the cryptocurrency industry and the SEC’s rigorous scrutiny, the future of the crypto space remains bright. Innovations continue to emerge, and as regulatory clarity is achieved, the industry is poised for sustainable growth and broader acceptance. 
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 <li><a href="https://cryptonewsland.com/community-wants-do-kwon-in-the-same-cell-with-sbf/" rel="noopener noreferrer nofollow">Community Wants Do Kwon in the Same Cell With SBF</a></li> 
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The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/us-sec-and-south-korea-join-forces-in-terraform-labs-investigation/">US SEC and South Korea Join Forces in Terraform Labs Investigation</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.

US SEC and South Korea Join Forces in Terraform Labs Investigation

Crypto News Land

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