A recent ruling by the Montenegrin court has set in motion the extradition process for Terra Labs founder, Do Kwon. Both the United States and South Korea have submitted extradition requests, with one of them now poised to gain custody over Kwon.
The final decision on where Kwon will serve his time is now in the hands of a Montenegrin minister who must weigh both nations’ appeals before making a determination. The Montenegrin Constitutional Court ruled unanimously that it would dismiss jailed Terra Labs founder Do Kwon’s appeal against his extradition.
With this verdict, the focus shifts towards which nation – US or South Korea – will take charge of prosecuting Kwon for alleged crimes related to his involvement with the failed cryptocurrency project TerraUSD (UST). As anticipation builds around Kwon’s fate, investors and industry observers are eagerly awaiting the outcome of this high stakes legal battle between two powerful economies.
Whoever secures custody of Do Kwon may not only impact his personal future but could also send ripples throughout the global crypto market landscape.
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