Do Kwon's imprisonment in Montenegro could be extended by another six months (report)

Do Kwon's imprisonment in Montenegro could be extended by another six months (report)

reported that the Montenegrin authorities are considering an extension of the detention of Do Kwon in the country by another six months before making an official decision on its possible extradition. The home country of the co -founder of Terraform Labs - South Korea - and the largest economy in the world - the United States of America - both applied for its deportation.

The Montenegrin police arrested the 31-year-old developer in March of this year after he was supposed to be on the run for several months and changed several hiding places. He is accused of numerous allegations of fraud and he is accused of being involved in last year's collapse of Luna/VAT.

Is Kwon's stay in Europe extended?

Marija Rakovic-Consultant for Public Relations of the Supreme Court of Montenegro- confirmed Preserver-spaces = "True" received of half a year. During this period, the judges will decide whether the former crypto tycoon will be delivered to South Korea.

The authorities of the Asian country insisted on his deportation and claimed that he had made a significant contribution to this Preserver-Spaces = "True"> The Terra Lint Last year caused losses of Several billion dollars and undermining the entire sector of digital assets.

The USA also applied for Kwon's delivery. The US stock exchange supervision SEC had previously claimed that Terraform Labs and its co-founder had staged a massive crypto fraud by offering and selling not registered securities using digital currencies.

American prosecutors pressed also the main cause of the disaster. The officials accused him of the fraud of securities, raw material fraud and conspiracy.

The legal problems for the South Korean does not stop here. When he was arrested at Podgorica Airport in March, he had a fake passport and fake travel documents with him. A hearing on this matter before the basic court of Podgorica is planned for June 16.

In addition, Kwon has to answer questions about his possible connection to Milojko Spajic-the former finance minister Montenegros and current chairman of the political party European Now. The National Security Council announced that the people have been friends for years and Kwon financed some of Spajic's political campaigns.

Could the US stock exchange supervision SEC drop the fees?

The law firm Dentons, which represents Terraform Labs, recently tried to alleviate some of Kwon's problems by ending their legal dispute with the US stock exchange supervision Sec. The lawyers made an application that claim Preserver-Spaces = "True"> that VAT (the algorithmic stablecoin developed by the blockchain company) is not a securities, which means that the regulatory authority should reject the indictment.

The defense, represented by Douglas Henkin, claimed that the asset was "intended for practical purposes and trade, not as an investment".

"From design ... it is one to one on the dollar; it is designed so that it does not fluctuate. This is for trade ... this is a consuming use."

The lawyer continued and compared the stablecoin to Bitcoin and suggested that VAT "would be checked by a decentralized group to the Luna token.

Devon Staren-A representative of the SEC-said the agency "just enforced existing laws". She found that the analysis of tokens goes beyond them and touches the ecosystems to which they belong. Starren also praised Luna and claimed that it was "just a piece of code".

The decision by judge Rakoff about whether the application is granted or rejected is expected in mid-July.

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