• Terraform Labs co-founder Do Kwon will remain in Montenegro custody for six months while the country’s courts consider an extradition request from South Korea.
• The Podgorica High Court approved Kwon’s bail request after a previous rejection by the same court.
• Kwon and fellow Terra executive Han Chang-Joon are due to appear in a Montenegro court tomorrow.
Do Kwon to Remain in Custody While Montenegro Courts Consider Extradition Request
The Podgorica High Court has confirmed that Terraform Labs co-founder Do Kwon is to remain in Montenegro custody for six months while the country’s courts consider an extradition request from South Korea. This follows an announcement from the same court on the approval of bail for a case involving document forgery.
Bail Request Approved After Previous Rejection
Kwon’s bail request was approved after a previous rejection by the same court. In March, he was arrested in Montenegro over the alleged possession of falsified documents along with fellow Terra executive Han Chang-Joon. South Korean officials were searching for Kwon, and following his arrest, the country requested his extradition, as did the U.S., leading to possible jail time in Montenegro over the document forgery case.
Kwon and Han Appearing in Court Tomorrow
Kwon and Han are due to appear in a Montenegro court on Friday, June 18th 2021. The hearing may have implications for their respective cases; if either is denied extradition or released on bail, they could be allowed to leave Montenegro pending further legal proceedings elsewhere.
Terra Community AMA With Do Kwon
In April 2021, Do Kwon participated in a Terra Community AMA (Ask Me Anything) session with members of its community who posed questions about Terra’s mission and operations. During this event, he discussed how cryptocurrencies can provide financial access across borders and expand financial inclusion opportunities globally – something which remains core to Terra’s mission today and highlights why it is important to ensure that justice is served fairly between countries without any form of bias or inequality occurring during such processes as extradition requests from one nation to another nation or jurisdiction within another region entirely.
Long Term Consequences
The outcome of this case will have long term consequences not only on Do Kwan but also on other crypto entrepreneurs looking to create meaningful projects with global implications through technology innovation and decentralization efforts outside their own countries where restrictive regulations may exist at present time making progress difficult even when desired outcomes are legally compliant within those territories themselves or on international basis overall too.