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The post <a href="https://coinpedia.org/news/terra-lawsuit-update-do-kwon-in-extradition-limbo-will-he-miss-his-sec-trial-date/">Terra Lawsuit Update: Do Kwon to Miss His Trial Due to Extradition Delay?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
In a surprising twist, <a href="https://coinpedia.org/news/do-kwon-to-be-extradited-to-u-s-over-terrausd-collapse-montenegro-court-rules/">Do Kwon</a>, co-founder of <a href="https://coinpedia.org/news/terra-classic-lunc-price-rally-with-1m-lunc-deposit/">Terraform Labs</a>, is facing potential delays in his extradition from Montenegro, raising concerns about his presence at the upcoming civil trial in the USA against the US Securities and Exchange Commission (SEC). The trial is scheduled to begin on March 25, 2024. 
<h2 class="wp-block-heading" id="h-extradition-complications">Extradition Complications</h2> 
Montenegro’s court recently ruled to extradite Kwon to the United States, rather than his preferred destination, South Korea. Kwon is appealing this decision, arguing that the lower court’s ruling was based on incorrect information about the timing of the extradition requests. 
In a letter filed in federal court, Kwon’s lawyer, David Patton, expressed confidence, stating, “I do not expect Mr Kwon to be extradited anywhere before the end of March.” This suggests a likelihood that Kwon may miss at least the start of his legal battle against the SEC. 
Read More: <a href="https://coinpedia.org/news/terraform-labs-ex-cfo-han-chang-joon-extradited-to-south-korea-sparks-legal-speculation/">Terraform Collapse Update: Ex-CFO Extradited, Do Kwon’s Fate Awaited</a> 
<h2 class="wp-block-heading" id="h-kwon-and-terra-push-forward">Kwon and Terra Push Forward </h2> 
Despite the extradition complications, Kwon, along with his lawyer Patton, remains committed to not seeking an adjournment for the trial scheduled on March 25, 2024. 
Kwon and Terraform Labs have been entangled in legal proceedings initiated by the SEC in February last year. The SEC alleges that TerraUSD and Luna cryptocurrencies, associated with Terraform Labs, collapsed in May 2022, causing substantial losses of around $40 billion in the crypto markets. 
A (Strong) Defense? 
The SEC claims that Terraform and Kwon deceived investors regarding the stability of TerraUSD, a stablecoin designed to maintain a constant $1 price. The commission also contends that misinformation was provided about how a popular Korean mobile payment app utilized the Terraform blockchain for transaction settlements. 
Kwon strongly denies any wrongdoing, maintaining his innocence. 
Did You Know? <a href="https://coinpedia.org/price-analysis/breakout-alert-terra-classic-and-terra-luna-prep-for-bull-run/">Breakout Alert: Terra Classic and Terra Luna Prep For Bull Run</a> 
<h2 class="wp-block-heading" id="h-the-looming-question-will-kwon-miss-the-sec-trial">The Looming Question: Will Kwon Miss the SEC Trial?</h2> 
In addition to the SEC charges, Kwon also faces U.S. criminal charges. His extended detention in Montenegro, dating back to his arrest in March 2023, has been marked by ongoing disputes over the potential extradition country, with both the United States and South Korea seeking his return. 
As Kwon readies for extradition to the US, the crucial question remains—will he miss the start of his SEC trial? With the March 25 trial date approaching, the crypto community awaits the hearing of this high-profile, white-collar crime case

Terra Lawsuit Update: Do Kwon to Miss His Trial Due to Extradition Delay?

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