Montenegro’s Supreme Court overturned a lower court’s decision regarding the extradition of Terraform Labs co-founder Kwon Do-hyun to the United States or South Korea.
Mr. Kwon’s extradition continued for several months. The Supreme Court said the law requires the Minister of Justice, not the courts, to make the decision. press release On Friday. This came after Mr. Kwon was appointed. guided After arriving in Korea last month, the court overturned the decision and appeals from former executives followed.
Mr. Kwon is facing criminal charges in the United States and Korea. be arrested He was accused of using a fake passport while attempting to leave Montenegro in March 2023.
Between the U.S. and South Korea, his lawyers reportedly priority In his home country, maximum sentences for financial criminals are shorter than in the United States, typically 30 to 40 years.
The Montenegrin government plans to approve extradition to the United States, sources familiar with the matter said. bloomberg Late February.
in new york
Meanwhile, in New York, a civil lawsuit against the Securities and Exchange Commission excluding Mr. Kwon is underway. Securities and Exchange Commission charged Terraform and Kwon surrounding algorithmic stablecoins in February 2023 soil Luna
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SEC says Terraform and Kwon misguided Investors’ opinions on the stability of Terra USD. One example is the claim by Kwon and his team that a Korean payments company called Chai is using the Terraform blockchain to settle millions of transactions. The SEC said that wasn’t true.
Final arguments are underway and a ruling is expected as early as Friday afternoon. report From Coinridge.
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About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.