SEC urges court to allow Do Kwon’s testimony and prohibit use of his statement in summary judgment

Odaily Planet Daily News In the lawsuit filed by the US SEC against Terraform Labs and co-founder Do Kwon, Do Kwon was asked to provide testimony. Meanwhile, Do Kwon remains in a Montenegro prison until the end of the year on passport fraud charges; extradition proceedings have not yet begun. According to court documents filed on September 22, the SEC urged the court to allow notice of defendant Do Kwon’s testimony. In addition, if Do Kwon's testimony is difficult to obtain, the SEC also recommended alternatives and urged the court to prohibit the use of any of Do Kwon's statements in summary judgment. Defendants Terraform Labs and Do Kwon are scheduled to file their responses on September 26. The SEC has submitted additional details in a memorandum in support of the motion. The SEC’s earlier motion to issue a letter of request for international judicial assistance against Chai Corporation and Terraform Labs co-founder Daniel Shin was approved by the judge; while the defendant’s request to subpoena a third party to request documents was rejected by the judge. Separately, Judge Jed Rakoff refused to agree with Judge Torres’ ruling in Ripple’s lawsuit with the SEC. The latest developments in court proceedings are unfavorable to the SEC, as a federal judge said the SEC's practices are hypocritical, arbitrary and capricious. (CoinGape)