Do Kwon is set to be released from prison in SpuΕΎ on Saturday, following a High Court decision. However, he will not be allowed to leave Montenegro as reported by local sources. The authorities will confiscate Kwon’s valid passport as a security measure in response to challenges raised by the Supreme State Prosecution Office regarding the expedited process that led to the initial approval of Kwon’s extradition earlier this month.

The objections raised by the prosecution question the legal foundation of the court’s decision to extradite Kwon to the United States. The pause in the extradition process allowed Kwon to be extradited to the United States, aligning with the preferences of Montenegro’s authorities. Kwon’s legal representatives have been advocating for his return to South Korea, where the consequences for his alleged crimes are perceived to be less severe than in the United States.

The country’s lead prosecutor has highlighted technical issues in the handling of the court’s order for extradition. This development comes after the court reversed its initial decision to extradite Kwon to the United States for a civil trial related to fraud charges by the U.S. SEC, scheduled to begin on March 25.

Kwon, along with Terraform Labs, is facing litigation by the SEC following the collapse of the TerraUSD and Luna cryptocurrencies in May 2022. The aftermath of the collapse is estimated to have wiped out approximately $40 billion from the cryptocurrency market. Kwon was arrested in Montenegro a year ago for traveling on a fake passport.

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