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The cryptocurrency landscape is currently undergoing a challenging phase, with the biggest cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), experiencing a price decline. However, recent news has gathered everyone’s attention, as the Higher Court in Podgorica, the capital of Montenegro, has given the green light for the extradition of Kwon Do-Hyung, a citizen of the Republic of South Korea, based on charges related to crypto fraud. Extradition ruling and charges against Kwon Do-Hyung 
The ruling, made on November 17, 2023, followed a request from both the Ministry of Justice of the Republic of Korea and the U.S. Department of State. Do Kwon is the founder of Terraform Labs and the person behind the collapse of $40 billion terraUSD, engaging in fraudulent trading, violating financial market laws, and participating in a conspiracy to commit fraud.&nbsp; 
The charges arise from activities involving the sale of goods, buying and selling securities, and the transfer of funds across borders. 
In March 2023, Kwon was arrested in the country following being caught at Podgorica’s airport with falsified documents. However, the court’s decision highlighted that Kwon had initially agreed to extradition to South Korea, but due to several extradition requests from different countries, this made it challenging for the law on International Legal Assistance in Criminal Matters. 
Also Read: <a href="https://news.todayq.com/south-korea-continues-it-crackdown-on-terra-raids-co-founders-home/">South Korea continues it crackdown on Terra, raids co-founders home</a> Legal provisions and Minister of Justice’s role 
This provision allows the Minister of Justice of Montenegro to determine which country takes priority in case of conflicting requests. If the Minister of Justice approves the final extradition, it will proceed after Kwon serves the sentence imposed by the basic court in Podgorica. 
Earlier this month, Kwon and his associate Han Chang-Joon were convicted of the criminal <a href="https://news.todayq.com/sec-seeks-judgment-in-do-kwon-and-terra-crypto-fraud-case/">offense of document forgery</a>, resulting in a four-month prison term. The Republic of Korea and the United States both pursued potential extradition for separate legal proceedings against Kwon Do. 
© Todayq News

Do Kwon extradition from Montenegro approved, To be jailed in US?

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