Montenegro Court Approves Terra Founder Do Kwon’s Extradition
The higher court in Podgorica, Montenegro has given the green light for the extradition of Do Kwon, co-founder of Terraform Labs. This decision comes after Do Kwon and another executive were sentenced to four months in prison for passport forgery. The executives’ appeal was also denied by the Montenegro high court.
Do Kwon’s Extradition To Be Decided By Montenegro Minister
The court filing reveals that the legal requirements for Do Kwon’s extradition have been met at the request of both South Korea and the United States. Do Kwon has also consented to be extradited to his home country. The final decision on whether he will be extradited to the US or South Korea lies with Minister of Justice Andrej Milović, who considers it a political decision that will take some time.
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
US Court Favors SEC
Judge Rakoff has ruled in favor of the Securities and Exchange Commission (SEC) after reviewing all briefings, arguments, and expert testimonies in the case. The case will now proceed towards summary judgment. As a result, there has been a significant increase in prices for Terra (LUNA) and Terra Classic (LUNC), although they experienced a 1% decrease in the last 24 hours.
Hot Take: Montenegro Approves Extradition of Terra Co-Founder Do Kwon
The Montenegro higher court’s decision to approve the extradition of Do Kwon, co-founder of Terraform Labs, marks a significant development in this ongoing legal case. With both South Korea and the United States seeking his extradition, the final decision now rests with Minister of Justice Andrej Milović. The court’s ruling in favor of the SEC also adds to the complexity of the situation. As this story continues to unfold, it remains to be seen how these legal proceedings will impact the future of Terra and its co-founder.
