(Bloomberg) -- Montenegro’s Supreme Court suspended earlier decisions by lower-level judges to extradite former crypto mogul Do Kwon to South Korea, stalling an effort to hand over the Terraform Labs Pte co-founder to his native country where penalties are less severe than in the US, where prosecutors also want to try him for the $40 billion collapse of the TerraUSD stablecoin in 2022. 

The Supreme Court acted a day after the top prosecutor in the Balkan country, citing procedural errors, challenged the rulings that favored South Korea’s request. Extradition to either country is now possible only after further deliberations by the Supreme Court, which offered no time frame for a final decision when it announced its move on Friday. 

Read more: US to Fight Do Kwon Extradition to South Korea: Crypto in DC

The latest decision could allow Kwon’s extradition to the US, as preferred by Montenegro’s government. Kwon’s defense team, on the other hand, sought to hand him over to his native country where penalties for white-collar crimes are lower than in the US.

Even if Kwon is extradited to South Korea, the government there could still reach a deal with the US to have him tried in New York first. The US could argue that it has a stronger ability to seize Kwon’s assets around the world and agree to share them with South Korea.

Kwon was arrested in Montenegro in March 2023 for traveling on a fake passport, along with his associate Han Chang-joon, who was handed over to South Korea last month.

Read more: How Do Kwon Went From Crypto King to Fugitive to Jail: QuickTake   

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