Do Kwon says SEC’s extradition request is impossible

In the suit, the SEC said that Terraform and Kwon “touted and marketed” its Anchor Protocol, which at one point was marketed to pay out 20% interest on TerraUSD (UST) deposits. Kwon and Terraform Labs chief monetary officer Han Chang-Joon were jailed in Montenegro in March 2023 after presumably utilizing false travel files when trying to leave the nation.

According to the filing, the cut-off date for discovery in the SECs case versus Kwon and Terraform Labs is Oct. 13. Kwons legal team added that a Montenegrin court “informally” suggested that it might yet hold a hearing on Oct. 13 or Oct. 26, in which it would ask Kwon the SECs questions. The SEC noted that it might consider this procedure to be “inadequate” and pursue another deposition of Kwon after the discovery cut-off date.Related: SEC seeks to question Terraform Labs co-founder Daniel Shin in KoreaThe SEC sued Terraform Labs and Kwon on Feb. 16 for presumably “orchestrating a multi-billion dollar crypto property securities fraud.