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Home»ADOPTION NEWS»Montenegro’s Attorney General also discussed jurisdiction with the U.S. SEC at recent meeting
ADOPTION NEWS

Montenegro’s Attorney General also discussed jurisdiction with the U.S. SEC at recent meeting

By Crypto FlexsMay 23, 20243 Mins Read
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Montenegro’s Attorney General also discussed jurisdiction with the U.S. SEC at recent meeting
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People • May 22, 2024 10:10 PM EDT

Posted 1 minute ago In ~

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.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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.

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