During the meeting, the SEC provided Minister Andrej Milović with details of their investigation into Kwon, as well as updates on the court proceedings against him in the U.S. While specific details of the discussion were not disclosed, it may indicate progress in Kwon’s extradition process, which has faced delays.

The extradition decision has been a point of contention, with debates over whether Kwon should be sent to the U.S. or his native South Korea. Montenegro’s Supreme Court ruled in early April that the decision rests with the justice minister, not the court, following objections from Montenegro’s prosecutors to Kwon’s initial extradition order to South Korea in March.

Kwon and Terraform Labs were previously found liable for civil fraud by a U.S. jury in a case brought by the SEC in February 2023, related to the collapse of the algorithmic stablecoin Terra USD (UST) a year earlier.

Kwon’s legal troubles began in March last year when he was arrested in Montenegro for using forged travel documents. After completing his prison term on March 23, 2024, Kwon was reportedly transferred to a reception center for foreigners, with his passport confiscated by local authorities.

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