The trial against Terraform Labs and Do Kwon begins in New York City in the absence of Kwon

• The trial against Terraform Labs and Do Kwon begins in New York after dismissal from prison.
• The SEC accuses Kwon in the collapse of Terrausd, which caused a loss of $ 40 billion.
• During the trial in New York, the USA and South Korea are fighting for its delivery.

In a crucial moment for the world of cryptocurrencies, the trial against Terraform Labs and its founder do Kwon begins today in New York City.

💥 gm cryptox - 2 x important appointments for the evil guys of the crypto

🔸 Today is the starting signal for do kwons us 🇺🇸 #TX sam Bankman Fried #Sbf pic.twitter.com/xhj0mv3rvb

- rr2capital (@rr2capital) 25. March 2024

Interestingly, the developments Kwons from the Montenegrin prison and prepared the stage for a legal dispute, has attracted international attention.

do Kwon's selection of the jury for the process is already in progress

The process cited by the US stock exchange supervision SEC (Securities and Exchange Commission) is about allegations in connection with the dramatic collapse of the Terraform Labs in May 2022.

In view of the losses of market values ​​of over $ 40 billion, the SEC Kwon has accused of staging a fraudulent plan and manipulated the price of Terrausd to deceive investors.

kwon is charged with violation of the registration and fraud control provisions of the Securities Act and Exchange Act.

While civil processes usually lead to fines rather than prison terms, the outcome of this case has significant effects on regulating cryptocurrencies.

The USA and South Korea are responsible for the delivery of do Kwon

In the further course of the process, both the USA and South Korea are in a legal tug of war to deliver Kwon's delivery.

South Korea initiated the persecution after Kwon allegedly violated national market laws, which triggered an almost one -year international search.

kwon's conclusive arrest in Montenegro in March 2023 due to document falsification marked a turning point in the legal saga.

the arrest and subsequent detention in Montenegro followed several legal disputes, while Do Kwon's attendance team fought against his delivery from the country. The public had to go back and forth when the Supreme Court issued delivery commands that were canceled in the many appeals.

do Kwon was finally released from prison at the weekend. But despite his release, the officials kwon prohibited the use of his passport, which causes speculation about his next steps.

The unsolved delivery debate makes the case even more complex and leaves the time and place of the possible delivery of Kwon uncertain.

The collapse of Terrausd, which was once celebrated as a stable coin innovation, triggered shock waves in the cryptocurrency ecosystem and underlined the need for official control.

Since prominent personalities such as Kwon and FTX founder Sam Bankman-Fried are confronted with legal consequences, the industry is faced with a settlement with transparency and accountability.

The outcome of the New York process will undoubtedly shape the future landscape of digital financial system, since the authorities try to maintain investor protection and to maintain the market integrity.