Montenegrin authorities have recently taken a stance that could delay the extradition of Terraform Labs co-founder Do Kwon to South Korea. The country’s prosecutors have defied a previous court decision favoring the extradition, leading to the halting of the legal proceedings by the courts. This move falls in line with the prosecution’s attempt to extend the timeline of the extradition process.
Prosecution Challenges Court Decision
The High State Prosecution challenged the legality of the court’s decision regarding Kwon’s extradition. They have appealed to the High Court to review the decision, arguing that the previous ruling resulted from a shortened trial that breached legal protocols. The prosecutors assert that the court overreached by granting extradition permission, a power they claim belongs solely to the Minister of Justice.
In response to this challenge, the courts have granted a suspension of the extradition process. This suspension not only impacts Kwon’s potential return to South Korea but also complicates matters concerning his impending legal trials in the United States. It is reported that a lawsuit by the Securities and Exchange Commission against Kwon and his company will not be addressed until late in the month.
Complex International Extradition Dynamics
The tussle over Kwon’s extradition involves legal teams from both Montenegro and South Korea, with the United States also expressing interest in his case. Despite the complexity, Kwon’s legal representation has indicated that they do not anticipate his extradition to the US imminently. A hearing relevant to the extradition is slated to commence on March 25th.
In the midst of these legal proceedings, the cryptocurrency market has reacted. The price of LUNC, a cryptocurrency associated with Kwon’s company, fell by 5.82%, while USTC, another related digital currency, suffered a 5.40% loss. These drops occurred alongside general declines in trading volumes and market capitalizations for both currencies.