The trial in opposition to Do Kwon, the businessman of South Korean origin accused of being liable for the collapse of the LUNA token and the dollar-pegged stablecoin TerraUSD (UST), was scheduled to start in January 2026 in the USA. This was introduced by Choose of the Southern District of New York, Paul Engelmeyer, at a press convention held in the present day.
Kwon, who was extradited from Montenegro to the USA on December 31, 2024, is at the moment detained in a federal detention middle in Brooklyn, New York. And in the present day he appeared for the second time earlier than a US court docket, since in his first impeachment listening to on January 2 He pleaded not responsible to the prison fees in opposition to him.
Beforehand, US prosecutors Do Kwon was charged with 9 crimes, together with securities fraudwire fraud, commodity fraud and conspiracy to commit cash laundering.
Moreover, the prosecution alleged that because the founding father of Terraform Labs, Do Kwon “offered false details about the TerraUSD stablecoin in 2021.” In addition they maintained that “Terra and Luna’s progress was fueled by Do Kwon’s misleading actions.”
So, with the principle trial set to start, it was additionally established that the court docket will maintain a further pretrial session on March 6 and proceed the invention course of.
As famous in Criptopedia, CriptoNoticias’ Bitcoin academy, the Terra/Luna debacle It’s thought-about one of the vital surprising and traumatic monetary occasions in recent times.. The magnitude of the collapse put Do Kwon within the crosshairs of a number of authorities, corresponding to regulators in Singapore, South Korea and the USA, who’re investigating the case and level to him because the writer of a million-dollar cryptocurrency rip-off.
Because of this, this trial is predicted to deal with basic questions in regards to the regulation of cryptocurrencies, which takes on particular relevance on condition that Donald Trump is about to imagine the presidency of the USA as the primary brazenly pro-cryptocurrency president on the planet. nation, with the opportunity of reconfiguring the nation’s regulatory panorama.
