Do Kwon’s U.S. Extradition Will get Okay From Montenegro’s Justice Minister

Terraform creator Do Kwon can be extradited to the U.S., Montenegrin Justice Minister Bojan Božović stated Friday.

The U.S. and South Korean governments have each sought to take custody of Kwon to face prison expenses associated to the collapse of the algorithmic stablecoin Terra/Luna system in 2022, which kicked off a sequence of high-profile collapses together with that of FTX.

Kwon, who was arrested in Montenegro in March of 2023 and sentenced to some months in jail over passport forgery expenses, has been combating his extradition to the U.S. for greater than a yr. Varied courts within the nation have dominated in favor of the U.S. or South Korea taking custody of the onetime crypto govt.

In his statement on Friday, Božović stated his determination adopted the nation’s Supreme Courtroom ruling that the situations for approving an extradition had been met.

“Making an allowance for the decision of the Supreme Courtroom, the Ministry of Justice thought-about all of the details and circumstances and assessed standards such because the gravity of the prison acts, the place of execution, the order of submission of the request, the citizenship of the requested particular person, the opportunity of additional extradition to a different nation, in addition to different circumstances,” the assertion stated.

The U.S. bid met these standards, the assertion stated.

Friday’s announcement is simply the newest in a string of back-and-forth choices about the place Kwon needs to be despatched. The Appellate Courtroom of Montenegro dominated in August of this yr that Kwon ought to go to South Korea.

The authorized fallout for Terra continues within the U.S. as nicely; final week, the Securities and Trade Fee settled charges with Tai Mo Shan, a subsidiary of Soar Crypto, alleging Tai Mo Shan offered LUNA as a safety. The corporate pays $123 million as a part of the settlement.

Editor’s word: The Montenegrin authorities’s assertion was translated into English.