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In a recent development, US District Judge Jed Rakoff in Manhattan has decided to postpone the trial of Terraform Labs and its co-founder Do Kwon, who are facing allegations of a $40 billion cryptocurrency fraud. The trial was initially scheduled to begin on January 29 but has now been rescheduled to March 25.
The US Securities and Exchange Commission (SEC) has concurred with a court ruling postponing the trial of former Terraform CEO Do Kwon until March to ensure that both Do Kwon and Terraform Labs are tried together.
In a dramatic turn of events, the US Securities and Exchange Commission's (SEC) lawsuit against Terraform Labs and its enigmatic founder, Do Kwon, has been postponed to March 25th. This delay grants authorities time to extradite Kwon from Montenegro, allowing him to potentially attend the trial for the first time.
The Terraform Labs trial, accused of a $40 billion crypto fraud, is delayed to March 25 for Kwon's extradition from Montenegro.
The U.S. Securities and Exchange Commission's (SEC) case against Terraform Labs and its co-founder, Do Kwon, has been postponed, Reuters reported on Tuesday. The news comes days after a federal judge refused multiple motions to reconsider earlier orders.
A federal judge on Tuesday delayed the U.S. Securities and Exchange Commission's trial against Terraform Labs and co-founder Do Kwon over an alleged $40 billion cryptocurrency fraud, to allow time for Kwon to be extradited so he can attend.
The trial of Terraform Lab' former CEO has been pushed back to late March after his lawyer said he faces challenges to get him to the U.S.
Terraform Labs co-founder, Do Kwon, submitted a request to postpone his trial in the United States. It was reported that the United States Securities Exchange Commission (SEC) decided to approve the petition so the date could potentially be moved to Apr. 15.
SEC agreed to postpone trial date as requested by Do Kwon's legal team, but opposed severing his case from Terraform's.
In a significant development in the legal proceedings against Terraform Labs and its co-founder Do Kwon, the U.S. Securities and Exchange Commission (SEC) has requested to postpone the upcoming civil trial. The trial, initially scheduled for January 29, is now proposed to be moved to April 15.
The SEC civil trial against Do Kwon and Terraform Labs for alleged fraud in Terra's stablecoin collapse has been postponed to mid-April to enable Kwon's extradition and presence after both parties requested a delay.
The commission opposed the requested separate trials for Terraform and Kwon, asserting the inconvenience it would impose on the process.
The Terraform Labs trial has now been postponed until after Do Kwon is successfully extradited to the US from Montenegro.
The SEC has postponed the trial of Terraform Labs and Do Kwon, pending Kwon's extradition to the US, for a $40 billion cryptocurrency fraud.
This delay is attributed to the legal challenges surrounding Do Kwon extradition to the U.S. while currently situated in Montenegro.
The U.S. Securities and Exchange Commission (SEC) has agreed to delay a trial against Terraform Labs and its former top executive, Reuters said on Jan. 15. The regulator said that a “modest” delay of the trial date is justified because Terraform Labs' co-founder, Do Kwon, intends to attend the trial.
The U.S. Securities and Exchange Commission is unopposed to delaying Terra's crypto fraud trial and instead open to waiting till Terraform co-founder Do Kwon is extradited.
The SEC agreed with a request from Do Kwon's legal team to potentially postpone the trial date but opposed severing his case with Terraform's.
The U.S. Securities and Exchange Commission agreed to delay a civil trial against Terraform Labs and co-founder Do Kwon for allegedly orchestrating a $40 billion cryptocurrency fraud, so that Kwon can be extradited and attend.
Do Kwon, co-founder of Terraform Labs, has lodged another appeal against the Montenegro High Court's decision to uphold extradition requests from the United States and South Korea.
Montenegro High Court, reversing its November decision, upholds the validity of extradition requests, prompting the Do Kwon new appeal.
Local courts may be facing political pressure regarding Kwon's extradition to the U.S. or South Korea, his lawyer Goran Rodic told CoinDesk.
Disgraced Terraform Labs founder Do Kwon is reportedly asking a judge to delay the U.S. Securities and Exchange Commission's (SEC) trial to March so he can make an appearance. In a new letter addressed to the court uncovered by Inner City Press, Kwon's lawyers ask District Judge Jed S.
Amidst these market changes, analysts are closely examining predictions for AVAX, CEEK, and LUNA Coins to gauge potential trends and investment opportunities.
