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Friday, February 23, 2024
More
    bitcoin
    Bitcoin (BTC) $ 51,296.74
    ethereum
    Ethereum (ETH) $ 2,964.84
    tether
    Tether (USDT) $ 0.999893
    bnb
    BNB (BNB) $ 382.64
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    USDC (USDC) $ 1.00
    xrp
    XRP (XRP) $ 0.540229
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.084277
    cardano
    Cardano (ADA) $ 0.591205
    solana
    Solana (SOL) $ 102.91
    matic-network
    Polygon (MATIC) $ 0.994841
    polkadot
    Polkadot (DOT) $ 7.45
    tron
    TRON (TRX) $ 0.138814

    Montenegro Court docket of Enchantment revokes Do Kwon’s extradition once more

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    • Montenegro Court docket revokes Do Kwon’s extradition, citing procedural violations.
    • Former Terra CFO Han Chang-joon extradited to South Korea after Montenegro sentence.
    • US SEC trial postponed, hinting at authorized manoeuvres amidst extradition proceedings.

    In a major flip of occasions, the Court docket of Appeals in Montenegro has revoked the choice to extradite Do Kwon, the co-founder of Terra, to South Korea and the USA. This resolution follows a collection of authorized battles and extradition makes an attempt stemming from costs associated to the collapse of Terra’s stablecoin. It follows the same resolution by the Appellate Court docket of Montenegro in November 2023 earlier than the Montenegrin Excessive Court docket upheld Do Kown’s extradition request for a second time in December.

    In the meantime, Kwon’s former CFO, Han Chang-joon, has been extradited to South Korea, going through potential life imprisonment.

    Extraditing Do Kwon incomprehensible

    In granting Do Kwon’s second enchantment towards extradition the Court docket of Enchantment cited important violations of prison process provisions. The appellate court docket dominated that the choice to extradite Kwon was incomprehensible and didn’t correctly deal with extradition requests from South Korea and the USA.

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    The appellate court docket clarified that extradition choices needs to be made by the courts, not the Minister of Justice, as per the Legislation on Worldwide Authorized Help in Prison Issues. This resolution marks an important improvement in Kwon’s battle towards extradition, offering hope for a good trial and due course of.

    The case has now been returned to the court docket of first occasion for retrial, indicating a possible reprieve for Kwon in his authorized battle.

    See also  Shiba Inu struggles amidst whale exodus as Memeinator presale takes off

    Former Terra CFO extradited to South Korea

    Whereas Kwon’s extradition battle continues, his former CFO, Han Chang-joon, has been extradited to South Korea after serving a jail sentence in Montenegro. 

    Chang-joon, arrested alongside Kwon in March 2023 whereas trying to depart the nation, now faces potential life imprisonment in South Korea. His extradition underscores the severity of the authorized penalties tied to the Terra-LUNA disaster, which rocked the crypto market with a staggering $60 billion collapse.

    In parallel, the postponement of the civil trial introduced by the US Securities and Alternate Fee (SEC) towards Terraform Labs and Kwon hints at ongoing authorized manoeuvres. The delay is probably going geared toward facilitating Kwon’s extradition from Montenegro, signalling the advanced interaction between authorized jurisdictions and regulatory actions.

    As Do Kwon’s extradition battle unfolds, the end result stays unsure. Nevertheless, these latest developments underscore the excessive stakes concerned for Kwon, Terra and the broader cryptocurrency business amidst heightened regulatory scrutiny and authorized challenges.

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