(Bloomberg) -- Montenegro’s Supreme Court overturned earlier decisions to extradite Terraform Labs Pte. co-founder Do Kwon to South Korea, boosting US efforts to try the former crypto mogul for fraud charges related to the collapse of TerraUSD stablecoin in 2022. 

Kwon has been held in Montenegro following an arrest in March 2023 for traveling on a fake passport. His lawyers have fought for extradition to South Korea, which imposes weaker penalties for white-collar crimes compared with the US.  

Montenegro’s Supreme Court said the country’s justice minister will eventually decide where to hand Kwon over to after courts determine whether conditions for extradition are met. A person close to the matter told Bloomberg in late February the government intends to approve extradition to the US.  

A jury found Kwon and Terraform liable for fraud in a lawsuit filed by the US Securities and Exchange Commission over the company’s 2022 collapse. 





  • Former head of legal and compliance for fake cryptocurrency OneCoin was sentenced to four years in prison after admitting she helped launched hundreds of millions of dollars from the scam.
  • South Korea’s opposition Democratic Power pledged to lift curbs on exchange-traded funds that directly hold cryptocurrencies, including US Bitcoin products.
  • A federal judge tossed Custodia Bank Inc.’s bid for a key Federal Reserve account, rejecting the Wyoming firm’s allegations of unfair treatment by the central bank in denying access to the Fed’s payment systems and other operations.
    • Custodia had applied for a master account, seeking access to the Fed’s payment systems and central bank funding
  • Alphabet Inc.’s Google filed a lawsuit accusing two individuals based in China of using the firm’s platforms to distribute and advertise fraudulent crypto apps.
    • The lawsuit, filed at a federal court in New York, accuses the defendants of engaging in a pattern of racketeering, committing hundreds of wire fraud acts
  • Federal Reserve Bank of New York will be part of a test by the Bank for International Settlements and several central banks to use tokenization to speed up international payments.
  • A US appeals court revived a 2021 lawsuit against Coinbase accusing the exchange of facilitating sale of unregistered securities.



  • Coinbase Gets Registration as a Restricted Dealer in Canada
  • PayPal Adds PYUSD Stablecoin to Cross-Border Money Transfers
  • Binance Executive’s Nigeria Case Is Adjourned Until April 19 
  • Bitcoin Offshoot’s ‘Halving’ Is Prelude to Mining Change 
  • Singapore Licenses Crypto Market Maker in Rare Step for Industry
  • Silk Road-Linked US Digital Wallet Moves Bitcoin, Analysts Say
  • A European FinTech Hub Prepares to Get Tough on Crypto Companies
  • Quant Momentum Trade Is Hot Again in Crypto Amid Sharp Reversal
  • Van Eck Scion Launches Stablecoin With Investment Firm’s Support
  • Bitcoin Sinks on Ebbing Fed Rate-Cut Bets and Cooling ETF Demand
  • Owner of Crypto Platform CoinSwitch Launches Stock Trading App
  • Crypto.com to Offer Services in South Korea From April 29
  • MAS Introduces User Protection Requirements for Crypto Platforms
  • Crypto Exchange Binance Names Its First Board of Directors (1)














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