Montenegrin authorities recently met with representatives of the U.S. Securities and Exchange Commission to discuss the investigation of former Terraform Labs CEO Kwon Do-do and broader issues related to protecting cryptocurrency investors, the Montenegrin Ministry of Justice said Wednesday.
Ministry of Education said name The SEC announced that it had submitted the results of its investigation into Mr. Kwon to Attorney General Andrej Milovich, along with the U.S. court proceedings against Mr. Kwon.
Although the details discussed regarding Mr. Kwon were not disclosed in this disclosure, it may mean that the extradition process for Mr. Kwon, which had been at a standstill, has made progress. The question of whether the Terra co-founder will be extradited to the United States or his native Korea has been raging for months.
In early April, Montenegro’s Supreme Court ruled that the law requires the Minister of Justice to make extradition decisions instead of the courts. This decision came as Mr. Kwon is scheduled to be repatriated to Korea in March, and the Montenegrin prosecution made this decision. pushed back against.
Terraform Labs and Kwon were found guilty of civil fraud by a U.S. jury in a case brought by the SEC in February 2023 over Terra USD (UST), an algorithmic stablecoin that collapsed in dramatic fashion a year ago.
Mr. Kwon was arrested in Montenegro in March last year on charges of possessing false travel documents. After his sentence ends on March 23, 2024, Kwon It is said to have been placed A ‘reception center’ for foreigners whose passports have been confiscated by local authorities.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong, and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.