Strengthening the Economy with a Bitcoin Reserve

Milovi emphasizes that this move is not just a short-term investment but a long-term strategy to reinforce the nation’s financial security. If implemented, the reserve could reach a value of $3 billion to $5 billion within five years. Such diversification could help Montenegro become more resilient against global market volatility.

Aligning with the Global Digital Asset Trend

According to Milovi, countries like the United States have already begun integrating Bitcoin and other digital assets into their reserve strategies. He warns that staying out of this global trend could mean missing significant economic opportunities in the long run. Milovi also predicts a substantial rise in Bitcoin prices by 2030.

A Strategic Advantage for Montenegro

If adopted, Montenegro could position itself as one of the first nations to establish a national cryptocurrency reserve, gaining both financial and political prestige. Integrating crypto assets at a national level could also enhance the country’s technological infrastructure and investor confidence, making Montenegro known not just for tourism but also as a player in the digital economy.

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The United States Attorney’s Office revealed an additional charge for Terraform Labs co-founder Do Kwon following his extradition from Montenegro: money laundering conspiracy.

In a new indictment filed on January 2 in the U.S. District Court for the Southern District of New York, U.S. Attorney Damian Williams alleged that Kwon conspired with others to commit money laundering.

According to the U.S. Attorney, the Terraform co-founder facilitated transactions of over $10,000 on the platform, knowing that the property involved in certain financial transactions represented the proceeds of unlawful activity.

The money laundering charge was not initially part of the eight-count indictment filed against Kwon in March 2023. Prosecutors filed the indictment under seal in May 2024, and on January 2, a judge ordered the unsealing of the indictment during Kwon’s court appearance.

Kwon, who is alleged to have been involved in the 2022 collapse of the Terra ecosystem, was arrested and detained in Montenegro in 2023 for using falsified travel documents. Authorities from the U.S. and South Korea filed competing petitions to extradite the Terraform co-founder, but Montenegrin authorities did not make a decision on his legal status until December 2024, when Kwon was handed over to U.S. officials.

Will It Be A Court Trial or A Settlement Agreement?

The Terraform co-founder appeared in court on January 2, pleaded not guilty to all charges, and agreed to remain in detention. It remains unclear whether U.S. authorities will consider a plea deal or move forward with the charges.

Kwon’s case is similar to that of former FTX CEO Sam “SBF” Bankman-Fried, another crypto executive who was subject to the jurisdiction of another country (the Bahamas) before being extradited to the U.S.

In SBF’s case, his lawyers argued that a campaign finance charge added to a superseding indictment should be dropped, as it was not part of the extradition request.

Bankman-Fried was convicted on seven felony counts and sentenced to 25 years in prison, but he has filed an appeal.

Former Binance CEO Changpeng Zhao pleaded guilty to one charge and served four months in prison in 2024.

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The post Do Kwon’s New Indictment Includes Money Laundering Charge! appeared first on Coin Engineer.

The post Do Kwon’s Extradition from Montenegro Has Been Postponed Once Again appeared first on Coin Engineer.

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As is known, in 2022, the Terraform Labs stablecoin Terra experienced a $60 billion collapse. Following this, US and South Korean prosecutors took action and filed a lawsuit against the founder and CEO Do Kwon.

After being caught in Montenegro, Han Chang-joon served 4 months in prison. Later, at the request of the South Korean Ministry of Justice, the Montenegrin police extradited Chang to the country.

In addition, the Montenegrin government announced that it had handed him over to the authorities for the “prosecution of many crimes related to fraud in the investment and capital market, punishable by life imprisonment in South Korea.”

Finally, Goran Rodic, the lawyer for Do Kwon and Chang, said the following about the lawsuit:

“The decision on the Do Kwon case has not been made after our appeal. We are currently in the waiting phase.”

The post Terraform Labs CFO Extradited to South Korea! appeared first on Coin Engineer.

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He was arrested in Montenegro in March and sentenced to four months in prison for using a fake passport. The Terra founder was also charged in the United States and South Korea for the collapse of the Terra ecosystem.

Additionally, if Kwon is extradited to the United States, he will be facing eight charges, including commodity fraud, securities fraud, wire fraud, and market manipulation.

The collapse of Terraform Labs in May 2022 was one of the biggest catalysts that triggered the downturn in the cryptocurrency market. The loss of the dollar peg of Terra’s stablecoin UST caused billions of dollars in losses.

Besides, his extradition will be a significant development for the cryptocurrency industry. By being held responsible for the collapse of the Terra ecosystem, he will try to restore confidence in the cryptocurrency market.

Kwon’s extradition process

Kwon’s extradition process will begin with talks between the Montenegrin government and the US government. The talks will determine the legal terms and conditions of Kwon’s extradition. If Kwon is extradited, he will be tried in the United States. If Kwon is found guilty, he could face decades in prison.

Impact of Kwon’s extradition

The extradition of Do Kwon will be a significant development for the cryptocurrency industry. By being held responsible for the collapse of the Terra ecosystem, he will try to restore confidence in the cryptocurrency market. Also, the extradition of Kwon could be a turning point for the cryptocurrency market. If he is found guilty, it is expected to have a significant negative impact on the cryptocurrency market.

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The post Do Kwon is to be extradited to the United States! appeared first on Coin Engineer.