News View Non-AMP

Terra Vs SEC : Navigating Do Kwon’s Extradition Proceedings

Published by
Qadir AK

In a recent development from Podgorica, Montenegro, the legal case involving Terraform Labs co-founder Kwon Do-hyung, also known as Do Kwon, has reached a new turning point. The Montenegro High Court has approved his extradition, responding to requests from both the United States and South Korea. This decision has been promptly met with an appeal by Kwon’s legal team.

Court Decision:

The High Court of Montenegro, on November 24, authorized the extradition of Kwon Do-hyung, aligning with the extradition requests from the US and South Korean authorities who are pursuing Kwon for alleged financial misconduct linked to Terraform Labs. Challenging this decision, Do Kwon filed an appeal on December 6, as reported by Digital Assets, a South Korean media outlet. Kwon expressed his disagreement with the court’s decision, stating, “I do not accept the court’s decision to extradite me.”

Marija Rakovic, the press officer of the Podgorica High Court, emphasized that individuals in extradition cases, such as Kwon, are entitled to appeal court decisions. The Montenegro Court of Appeals is now tasked with revisiting the extradition ruling considering Kwon’s appeal, potentially delaying the final decision on his extradition, which was previously scheduled for December 15.

Detention and Public Attention:

Since the June 15 order for Kwon’s detention pending extradition, he has been held in custody, with this period set to end on December 15, marking six months of detention. The case has attracted significant attention in Montenegro, with local journalists reporting a general feeling of burden among judiciary and government officials due to the high-profile nature of Kwon’s case.

Conclusion:

Despite the appeal, there is speculation that Kwon is likely to be extradited to either Korea or the United States by January next year. Amidst these developments, there have been queries regarding Kwon Do-hyung’s willingness to comply with the extradition judgment, raised by various parties including the Montenegrin court, the Ministry of Justice, and Kwon’s legal representatives.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Ethereum Price Prediction 2025: ETH Price May Trigger a 10x Rally, if This Trade Setup Plays Out Well

The crypto markets are experiencing a powerful bullish wave, highlighted by Bitcoin’s breakout and a…

April 25, 2025

What’s Next for the Chainlink (LINK) Price-Will it Reclaim $20 Before the End of the Month?

The recent rise in the bullish momentum has elevated the markets above the bearish captivity…

April 25, 2025

Coinbase Inks Strategic Partnership With PayPal to Enable Mainstream Adoption of PYUSD Stablecoin

The PayPal USD (PYUSD) stablecoin is fast approaching the $1 billion market cap milestone. The…

April 24, 2025

Cardano (ADA) Enters a Decisive Phase:  Will a Golden Cross Trigger a Move Above $1?

The crypto market is in a pivotal phase, marked by trend reversals, mixed short-term performance…

April 24, 2025

MultiBank (MBG) Token Analysis: A Standout Opportunity in the CEX Token Landscape

After examining the major centralized exchange tokens like BNB, OKB, CRO, and others, MultiBank's MBG…

April 24, 2025

Should You Be Bullish on POL (Prev. MATIC) Price? Will It Ever Reach $1?

The crypto market is witnessing some cautious declines today, with the total market capitalization dropping…

April 24, 2025