Summary
TLDR: Montenegro appeals court overturns ruling to extradite Terraform Labs founder Do Kwon to the US, ongoing dispute involving US, Montenegro, South Korea, and Kwon’s team. Kwon remains in custody in Montenegro since March 2023. US SEC’s civil trial against Kwon delayed to March 25, no further delays expected. Confusion over extradition requests from US and South Korea. Final decision on extradition still pending.
Key Points
1. An appeals court in Montenegro has overturned a previous ruling to extradite Terraform Labs founder Do Kwon to the US, the court said Tuesday.
2. Tuesday’s update marks the latest development in the ongoing dispute involving the United States, Montenegro, South Korea and Kwon’s team to determine where Montenegro authorities will send the disgraced founder. Kwon has been in custody in Montenegro since March 2023. South Korea and the US are seeking extradition.
3. The US Securities and Exchange Commission’s civil trial against Kwon is scheduled to kick off in New York on March 25, delayed from January. US District Judge Jed Rakoff said there will be no further delays and the trail will proceed with or without Kwon present.