According to CryptoSlate, Terraform Labs' lawyers have filed documents with a U.S. court stating that the former CEO of Terraform Labs, Do-Hyung Kwon, is currently held in prison in Montenegro but is expected to be released and returned to the United States. The document suggests that a repatriation schedule has not been set, making it impossible for Kwon to respond to the U.S. Securities and Exchange Commission's (SEC) request to appear as a witness.

Previously, the SEC had requested the court to extradite Mr. Kwon to the United States and have him testify as a witness in a case related to securities fraud. Terraform Labs has contended that the SEC has not obtained the necessary permission for the extradition order and that the SEC's request is unreasonable since neither party in the lawsuit has submitted a motion for summary judgment within the upcoming deadline. They also argue that the evidence presented to implicate Mr. Kwon was misinterpreted.

This legal development highlights ongoing legal proceedings related to cryptocurrency companies and their executives, as well as the complexities of international extradition in such cases. 🏛️💼 #TerraformLabs #SEC #CryptocurrencyLegalIssues