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Terraform co-founder Do Kwon is set to be released from prison in Montenegro but will remain in the country due to facing criminal charges from multiple countries.
The Supreme Court of Montenegro is postponing the extradition of disgraced Terra (LUNA) founder Do Kwon to South Korea.
Per the High Court decision, Do Kwon will be released from prison in Spuž on Saturday but will not be allowed to leave Montenegro.
Terraform Labs co-founder Do Kwon, according to a recent ruling, is set to be released from jail and placed under house arrest, a decision made by the Montenegrin court system. This comes in the midst of an intricate legal issue involving extradition requests from South Korea, where Kwon is wanted in connection to the collapse
Do Kwon, the co-founder of Terraform Labs, is set for release from Spuž prison in Montenegro, with strict conditions preventing his departure from the country. Following a court order, Kwon's passport was confiscated, a measure aimed at ensuring he stayed within Montenegrin jurisdiction.
Prosecutors purportedly plan to confiscate the Terraform Labs co-founder's South Korean passport, though he allegedly used a forged Costa Rican passport in Montenegro in 2023.
Do Kwon, Terraform's co-founder, is to be released from prison in Montenegro but will in the country for now due to global criminal charges.
The cryptocurrency market has been on a roller coaster with prices rising and falling in equal measure. Bitcoin dropped from its all-time high and tested support at $60,500.
As the legal situation surrounding Do Kwon, CEO of Terraform Labs, evolves, his imminent return to South Korea raises questions about the next steps in the investigation.
Montenegro's Supreme Court has intervened in Do Kwon's extradition to South Korea, putting the process on hold indefinitely, according to a March 22 translation of the Court notice. The Court said it overturned previous decisions from two lower courts that had greenlit Kwon's extradition to South Korea because of the Supreme State Prosecutor's Office's request.
The Supreme Court of Montenegro is withholding the extradition of Do Kwon, co-founder of Terraform Labs, to South Korea. On March 22, the decision was made after an aspirant legality claimed that this procedure falls outside the remit of the lower courts.
TerraClassic has witnessed a remarkable uptick in its market performance, marking a significant increase over the previous month. In the recent week, LUNC's price movement has been somewhat unpredictable, alternating between upward and downward trends moving laterally in the market.
The Prosecutor General's Office of Montenegro says the decision to deport Terraform Labs founder Do Kwon to South Korea was illegal.
Do Kwon faces fraud charges in the United States and South Korea as authorities compete to extradite the Terraform Labs co-founder.
Montenegro's Supreme Court placed a pause on Terra founder Do Kwon's pending extradition from the Balkan country, issuing an order on Friday that overturns earlier decisions from two lower courts to extradite Kwon to his native South Korea.
Since the arrest of Do Kwon, both the United States and South Korea have submitted extradition requests, setting the stage for a legal war between the two countries.
Former Terraform Labs CEO Do Kwon is set to be extradited to South Korea, unless Montenegro's top prosecutor stops it.
The Terra Luna Classic community is currently voting on a crucial proposal to overturn the previously approved KYC requirement. Some members argue that this KYC rule for developers has slowed down the growth of Terra Luna Classic.
Terra Luna Classic community voting on a key proposal to repeal the earlier passed KYC proposal based on claims that KYC requirements for developers have stalled the growth of Terra Luna Classic. Meanwhile, LUNC and USTC prices have taken a hit amid futures selloff and options expiry.
An appellate court in Montenegro has stopped the extradition over “significant violations of the provisions of criminal procedure."
The legal action against the co-founder of Terra.
Montenegro's Supreme State Prosecutor has challenged the High Court's decision to deport Do Kwon, the co-founder of Terraform Labs, to South Korea. The objection stems from a jurisdictional dispute, suggesting the court may have exceeded its powers.
Montenegrin prosecutors contest a courts ruling to extradite Do Kwon to South Korea, complicating the legal saga surrounding the Terraform Labs co-founder. Extradition Battle: Do Kwons Legal Saga Takes a New Turn with Montenegros High Court Ruling Two weeks ago, a high court in Podgorica, Montenegro, ruled that Do Kwon should be extradited to South Korea.
The top prosecutor of Montenegro challenged the authority of the High Court in Kwon's case. The case is not likely to move to the country's Supreme Court.
