Partner quoted in ‘Wall Street Journal’ on cryptocurrency developer
BCLP Partner Ashley Ebersole was quoted Oct. 25 in The Wall Street Journal on a recent incident involving a cryptocurrency developer who has in turn sued the Securities and Exchange Commission (SEC). Do Kwon was handed two subpoenas as he stepped off an escalator in a New York City hotel, where he was scheduled to speak at a crypto conference. Kwon says the SEC violated their own rules for keeping its probes secret by issuing the subpoenas in-person. Taking formal action was complicated because the U.S. agency lacks clear jurisdiction over Kwon and his company, Terraform Labs Pte Ltd., which is based in Singapore, according to the lawsuit. Serving him while he was in the U.S. also could make it easier for the SEC to obtain evidence from him without having to work through overseas regulators, said Ashley, who previously worked at the SEC. “The [conference] context is unusual, but I wouldn’t necessarily read anything into this beyond the certain time and certain date and knowing the person is going to be there,” he said.
To read the article in full, please visit The Wallstreet Journal.
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