The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). In connection to its probe into whether the Mirror Protocol was used for unregistered sales of securities, Do Kwon from Terraform Labs requested documents and testimony.

Kwon was at a New York City conference when he received the subpoena. Kwon ClaimIn October, he filed a complaint claiming that the SEC violated the Administrative Procedure Act and its own rules by serving subpoenas in person. Later, he also disputed the court’s jurisdiction over the case due to Terraform’s lack of contact with the United States. The court rejectedThese were the February claims.