Montenegro's Ministry of Justice will decide whether to extradite Do Kwon, the founder of Terraform Labs (TFL), to either South Korea or the United States, Cointelegraph reported. On Feb. 20, the Supreme Court of Montenegro "referred the case to the minister of justice after issuing a ruling on his request for legal protection," the report stated. The move comes after TFL settled with the U.S. Securities and Exchange Commission (SEC), concluding its bankruptcy proceedings. The extradition request from South Korea alleges that Kwon violated capital market laws, while the United States alleges securities fraud. Kwon has previously denied any wrongdoing and has stated that he is "committed to cooperating with law enforcement and regulatory authorities." The decision by Montenegro's Ministry of Justice is expected to be made in the coming weeks.