Re:UST Stablecoin Loses Dollar Peg
by dragonwriter on Tuesday May 10, 2022 @04:48AM
(#31324918)
> The SEC was told by a US court that they can in fact deliver a subpoena
Wrong. They served the subpoena first; they need no permission to do that. Then SEC sued to enforce the subpoena, and the SEC prevailed in their suit.
Then Do Kwon and Terraform applied to have enforcement of the subpoena stayed by the trial court pending appeal, and failed; they then attempted to get the US Court of Appeals for the Second Circuit to stay the subpoena pending appeal, and failed, and currently are in the process of litigating the case before the Second Circuit.
To portray this as a case where the SEC has failed (spefctacularly or otherwise) to establish jurisdiction is false.
Wrong. They served the subpoena first; they need no permission to do that. Then SEC sued to enforce the subpoena, and the SEC prevailed in their suit.
Then Do Kwon and Terraform applied to have enforcement of the subpoena stayed by the trial court pending appeal, and failed; they then attempted to get the US Court of Appeals for the Second Circuit to stay the subpoena pending appeal, and failed, and currently are in the process of litigating the case before the Second Circuit.
To portray this as a case where the SEC has failed (spefctacularly or otherwise) to establish jurisdiction is false.