Terraform creator Do Kwon will likely be extradited to the U.S., Montenegrin Justice Minister Bojan Božović stated Friday.

The U.S. and South Korean governments have each sought to take custody of Kwon to face legal expenses associated to the collapse of the algorithmic stablecoin Terra/Luna system in 2022, which kicked off a collection of high-profile collapses together with that of FTX.

Kwon, who was arrested in Montenegro in March of 2023 and sentenced to some months in jail over passport forgery expenses, has been preventing his extradition to the U.S. for greater than a 12 months. Numerous courts within the nation have dominated in favor of the U.S. or South Korea taking custody of the onetime crypto government.

In his statement on Friday, Božović stated his choice adopted the nation’s Supreme Courtroom ruling that the situations for approving an extradition had been met.

“Allowing for the decision of the Supreme Courtroom, the Ministry of Justice thought-about all of the details and circumstances and assessed standards such because the gravity of the legal acts, the place of execution, the order of submission of the request, the citizenship of the requested individual, the potential of additional extradition to a different nation, in addition to different circumstances,” the assertion stated.

The U.S. bid met these standards, the assertion stated.

Friday’s announcement is simply the newest in a string of back-and-forth selections about the place Kwon must be despatched. The Appellate Courtroom of Montenegro dominated in August of this 12 months that Kwon ought to go to South Korea.

The authorized fallout for Terra continues within the U.S. as properly; final week, the Securities and Alternate Fee settled charges with Tai Mo Shan, a subsidiary of Bounce Crypto, alleging Tai Mo Shan offered LUNA as a safety. The corporate pays $123 million as a part of the settlement.

Editor’s observe: The Montenegrin authorities’s assertion was translated into English.