A decision was recently announced regarding the extradition of Do Kwon to South Korea, which Montenegrin prosecutors yesterday opposed by rejecting the existing court decision on the extradition of the Terraform Labs co-founder, thereby attempting to prolong the process once again. Today, Montenegrin courts suspended the process, supporting the prosecutors.
Do Kwon Extradition Process
In recent moments, the extradition process of Do Kwon seemed to have hit another deadlock. According to a press release, the High State Prosecution has requested the High Court to determine whether the court’s decision to extradite Kwon to his country was correct.
The press release included the following statement:
In the case in question, the court conducted an abbreviated trial contrary to the laws, and overstepped its authority by making a decision on the extradition permission, which is exclusively within the jurisdiction of the Minister of Justice.
While the decision affected the process of whether Kwon’s extradition to South Korea will take place, another obstacle emerged before his trial in the USA. The lawsuit filed by the Securities and Exchange Commission against Kwon and Terraform Labs would not be seen before the end of the month.
The initial postponement decision emerged as the country’s attempt to buy time regarding Kwon’s extradition to the USA. However, by the end of February, Kwon’s lawyers had informed the court that they did not expect him to be extradited to the USA until March.
Developments in Do Kwon’s Extradition Process
Kwon and his lawyers in Montenegro had pressured the country’s judiciary for his extradition to South Korea. During the same time frame, the USA and South Korea conveyed their demands to Montenegro regarding the former CEO’s extradition. The relevant hearing is expected to start on March 25th.
In Montenegro, on Wednesday, just one day before the prosecution made a new announcement, the High Court’s “approved decision” regarding Kwon’s extradition was disclosed.
In an earlier statement by the court, emphasis was placed on South Korea’s initial request for Kwon’s extradition, and a decision was announced.
While all this was happening, attention turned to the prices of LUNC and USTC. Following the news, the price of LUNC fell, experiencing a 5.82% decrease to a level of $0.0001347.
On the USTC front, things were not looking bright either, and after the decision, the price fell by 5.40% to $0.02633. During the same period, both LUNC and USTC experienced declines in 24-hour trading volume and market cap.
