According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has opened an investigation into Terraform Labs over the collapse of terraUSD (UST) and Luna (LUNA) assets.
Specifically, the publication reports that SEC enforcement officials are investigating whether investor protection rules were violated as a result of token marketing.
In addition, the agency is investigating Terraform Labs founder Do Kwon and determining his role in creating Mirror Protocol.
Do Kwon and Terraform Labs have indicated that they are not aware of any SEC investigations into UST.