Do Kwon, the founder of Terraform and Luna, the tokenized asset platform, has denied U.S. jurisdiction by his recent move to Serbia. This unexpected move has been linked to both the U.S. authorities' and Korean prosecutors', pursuit of Kwon and their investigations into the companies he founded. His attorney has previously attested to the fact that Terraform, Kwon's open-source software development company, had limited contact with US authorities, and emphasized that most of Terraform's business is global and not solely focused on the US.

Kwon is being held in Montenegro on suspicion of forging a passport, a crime that can lead to a maximum sentence of 40 years in South Korea, yet the US has a different approach. According to their principle of justice plus conviction, perpetrators can be sentenced to more than 100 years in imprisonment.

Furthermore, US authorities have concluded that virtual assets are securities assets, which gives them legal standing to issue indictments or take similar actions against those involved. On the contrary, this determination is not law in South Korea, and there is no legal standard to establish whether virtual currencies are securities.

Local legal representatives of Kwon in Montenegro were asked about his extradition to either the US or South Korea, yet they refused to make a statement. This refusal to comment could be a sign that Kwon is currently denying both countries' jurisdiction over his case, and by similar means is trying to evade future penalties.



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