The legal hassle of Do Kwon, Terraform Labs’ ex-CEO, has now taken a new twist as his defense promises to fight a recent court ruling in Montenegro. This ruling that supports his extradition to the United States rather than to South Korea has triggered common legal warfare. 

The claims to try Kwon over his apparent participation in the TerraUSD stablecoin disaster, which led to the vanishing of billions of investors’ assets and shook the crypt market, have been made by both countries.

Legal Tussle in Montenegro

Goran Rodic, Kwon’s legal representative in Podgorica, Montenegro, has shown strong dissent to the High Court’s decision. Given on Wednesday, the decision is the latest in a string of legal processes that have resulted in contradictions in the judiciary of Montenegro. 

The main point of Rodic’s argument is that the court failed to assess the facts of the case correctly. He suggests a probable appeal to overturn the decision that he claims to be illegal, using successful results of past court fights as a basis for his optimism.

Do Kwon Extradition Controversy

The heart of the dispute is the international tussle over Kwon’s extradition. After being arrested in Montenegro for using false passports, the United States and South Korea have been in a battle to get custody of him. 

The U.S. acted quickly by filing eight criminal charges against Kwon soon after his arrest. Nevertheless, the Montenegro High Court ruling, as reported by Coingape, to give preference to U.S. extradition over a rival request from South Korea has compounded the intricate legal battle.

Awaiting Justice Minister’s Decision

Despite the clear stance of the High Court, the final decision is with the Minister for Justice of Montenegro. This causes an extra procedural stage that should pass before any extradition starts. A person familiar with the situation claims that the government is tending to support extradition to the U.S., however, formal approval is not yet available. 

The evolving situation demonstrates the major legal and diplomatic complexities surrounding cross-border criminal proceedings, especially when there are various vested interests in multiple jurisdictions.

With the appeals looming, the global crypto community and investors continue to watch intently on the outcome of Kwon’s legal battles. The decisions by Montenegro’s courts can have a broad impact, not just for Kwon and Terraform Labs but also for the regulatory pressure the entire crypto business faces. The story represents the dilemma of negotiating legal responsibility within a system that is not confined to traditional geographical or jurisdictional confines.

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The post Will Do Kwon’s Attorney Succeed in Challenging Extradition? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am