Montenegrin Minister of Justice and other officials met with US SEC representatives to discuss crypto legalities and the investigation into Do Kwon. Former Terraform Labs boss Do Kwon is still in Montenegro, awaiting an extradition decision. Meanwhile, Binance burned additional Terra Luna Classic (LUNC) tokens this week. The latest LUNC burn is not part of Binance’s monthly LUNC burn mechanism.
US SEC held talks in Montenegro: Terra founder is also at the table!
Montenegrin officials recently met with representatives of the U.S. Securities and Exchange Commission and discussed the investigation into former Terraform Labs leader Do Kwon, as well as broader issues related to the protection of crypto investors, the country’s Justice Department said on Wednesday. In the statement made by the ministry, it was stated that the SEC presented the results of its investigation against Kwon to the Minister of Justice Andrej Milović, together with the court proceedings against Kwon in the USA.
Do Kwon’s extradition process turned into a snake story
The statement did not include details of the issues discussed regarding Kwon. According to experts, this meeting means there is likely progress on Kwon’s extradition. The question of whether Montenegro will extradite Kwon to the United States or to his home country, South Korea, has been going on for months. At the beginning of April, the Supreme Court of Montenegro ruled that the Minister of Justice should make the extradition decision instead of the court. Before this decision, the court decided to extradite Do Kwon to South Korea in March. However, Montenegrin prosecutors opposed this decision. Ultimately, the Supreme Court of Montenegro put the blame on the Minister of Justice.
Binance burned additional LUNC tokens
cryptokoin.comAs you follow from , Binance, the world’s largest crypto exchange, burns additional Terra Luna Classic (LUNC) tokens each month that are not part of Binance’s monthly LUNC burn mechanism. Binance sent additional LUNC tokens to the burn wallet based on a transaction on May 23.
Binance burned 1.4 billion Terra Classic tokens in the 21st batch of the LUNC burning mechanism in early May. Following the exchange’s last burn, the total amount of LUNC it has burned to date has exceeded 59.07 billion. This accounted for 51.9% of the total amount of LUNC burned by the community. Meanwhile, the total LUNC tokens burned by the Terra Luna Classic community reached over 113.71 billion. Binance continues to support the community for the revival of Terra Luna Classic since 2022 through the monthly LUNC burn mechanism.
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