June 5, 2024
Policy & Regulation

Montenegro’s High Court: Do Kwon Extradition Decision Pending

Montenegro’s High Court to Decide on Do Kwon’s Extradition

Montenegro’s High Court is about to make a crucial decision regarding the extradition of Do Kwon, co-founder of Terraform Labs, to either the United States or South Korea. This decision, following another successful appeal from his legal team, holds significant implications for Kwon’s legal fate, amidst a complex legal tussle over his extradition.

Legal Maneuver Delays Extradition

In a report from Montenegrin news outlet Vijesti dated May 24, it was disclosed that the country’s court of appeals has accepted arguments presented by Kwon’s legal representatives. Consequently, the question of his extradition has been returned to the High Court “for retrial and decision.” This latest legal move is part of ongoing efforts by Kwon’s team to prolong the extradition process, avoiding potential criminal charges in the U.S. or South Korea.

The court of appeals stressed the importance of Kwon’s consent in the extradition process, noting that his agreement could lead to a shorter procedure. However, it also emphasized the need to ensure that any consent given is voluntary, with a full understanding of its consequences and irrevocability.

Ongoing Legal Saga

Kwon’s legal woes began in March 2023, with his arrest in Montenegro for allegedly using falsified travel documents while trying to leave the country. After being sentenced to four months in prison, he was released pending resolution of extradition requests from both the U.S. and South Korea.

In April, a U.S. court ruled against Terraform Labs and Kwon in a civil case brought by the Securities and Exchange Commission (SEC), finding them guilty of fraud. A hearing set for May 29 will consider proposed remedies from both parties.

Uncertain Future

As Montenegro’s legal system grapples with Kwon’s extradition, questions remain about his ability to defend himself, particularly if sent to either the U.S. or South Korea. In his homeland, Kwon faces accusations of fraud and violations of capital markets law, adding complexity to his legal predicament.


The forthcoming decision by Montenegro’s High Court regarding Do Kwon’s extradition marks a pivotal moment in his ongoing legal saga. This decision holds ramifications across multiple jurisdictions and legal realms, not only determining Kwon’s immediate future but also potentially shaping future proceedings concerning Spot Ether ETFs and Gary Gensler’s regulatory agenda. The case delves into issues of fraud and market violations, making it one to watch closely in the legal landscape.

Image by freepik

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