Do Kwon, one of the most sensational names in the cryptocurrency market, is once again in a complex legal labyrinth. On February 8, the Montenegrin Court of Appeals accepted the appeal of Kwon’s lawyer and sent the case back to the first instance court. This unexpected development stunned cryptocurrency markets and investors. In this news, we will examine the last turn in the maze of Do Kwon’s extradition and the latest developments in the case. Additionally, we will examine what this means for LUNC coin…
LUNC coin jumps with Do Kwon development
Do Kwon faces a new surprise. Do Kwon, who was wanted on fraud charges after the collapse of Terraform Labs and was captured in Montenegro, will not be extradited to the USA. With this development, LUNC coin rose by 5 percent. However, after a short time it started to decline again. On February 8, the Montenegrin Court of Appeals accepted the appeal of Kwon’s lawyer. Thus, he sent the case back to the first instance court. This unexpected development dragged both Do Kwon’s future and the cryptocurrency markets into a vortex of uncertainty.
The repercussions of the decision are already being felt strongly. The USA and South Korea wanted Kwon’s extradition and were following this case closely. The appeals court reopened the case, finding that the previous decision contained procedural errors. This raised the possibility that Kwon’s extradition could be delayed or blocked altogether. Thus, it caused a short-term rise in the markets. But this doesn’t mean a victory lap.
What decision is next?
Returning the case to the first degree court initiates a new trial process. Although the appeals court found irregularities, the outcome of the new hearings is not yet known. It remains unclear what decision the court will make and how the evidence presented will be evaluated. This may prolong the return process or turn it in a completely different direction. Moreover, it is not improbable that the Montenegrin government will seek different solutions by continuing diplomatic contacts with the USA and South Korea. It is a matter of curiosity what course governments will follow within the framework of international legal procedures and their own interests.
Do Kwon’s extradition has a symbolic meaning not only for the future of a single person, but also for the global cryptocurrency market. The decision in this case could set a precedent regarding the legal status of crypto assets and international cooperation. Regulatory bodies and governments will closely follow the course of this case and shape their own cryptocurrency policies. As a result, a new twist has been taken in the maze of Do Kwon’s extradition. The decision is full of uncertainty and question marks. While investors, lawyers and regulatory bodies are carefully following the next steps of the case, both the course of the cryptocurrency market and the future of crypto assets are locked in this case.
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