Do Kwon Wins Second Chance to Appeal Extradition From Montenegro
The appeal is a minor victory for Kwon, who initially won an appeal in November only for it to be subsequently overturned.
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The appeal is a minor victory for Kwon, who initially won an appeal in November only for it to be subsequently overturned.
Local courts may be facing political pressure regarding Kwon’s extradition to the U.S. or South Korea, his lawyer Goran Rodic told CoinDesk.
The former CEO of Terra is being held in Montenegro after being caught in Podgorica’s airport with falsified documents.
The U.S. Securities and Exchange Commission (SEC) has been blowing a horn in its various legal clashes with crypto exchanges, asking courts to see how its recent win in the Terraform Labs dispute should convince other judges that the regulator is right about platforms like Coinbase and Binance trading unregistered securities.
A federal judge issued summary judgements siding with the SEC’s arguments that Terraform had illegally sold unregistered crypto securities.
The blowups of his UST and LUNA tokens fueled a crisis that gripped the whole crypto industry in 2022, causing losses that reverberated far and wide.
The suit was filed in September 2022 by Julian Moreno Beltran and Douglas Gan on behalf of 375 others, who claim they lost a combined $57 million.
Minister will decide if Kwon will be extradited to the U.S. or South Korea.
The request follows a move by Kwon’s defense team to do the same.
Terraform Labs and its co-founder, Do Kwon, are asking a federal judge to side with them in the U.S. Securities and Exchange Commission (SEC) fraud case, arguing that the regulator hasn’t managed to prove the crypto company was offering securities.