A win for… Brussels?
Montenegro has approved the extradition of Do Kwon, the cryptocurrency entrepreneur who is sought on fraud charges by both the US and South Korea. Montenegro’s chief justice minister hinted that the US, as a “chief foreign policy partner”, is Do Kwon’s most likely destination. It’s also a win for the EU: Montenegro has no obligation to extradite except as part of meeting rule-of-law requirements for accession to the bloc. Prosecutors in the US have charged Do Kwon with orchestrating crypto fraud that wiped out at least $40 billion in market value when TerraUSD, a stablecoin he created, collapsed. He was arrested in March at Podgorica airport along with his ally and chief financial officer Han Chang-joon. The final decision on extradition will be announced after the pair finish serving a four-month sentence for carrying forged passports.