Montenegro's Minister of Justice, Bojan Božović, said in a statement he approved the Terraform founder's extradition to the U.S. rather than South Korea.

Montenegro has approved the extradition of a South Korean mogul known as “the cryptocurrency king” to the United States.

Kwon faces charges in the US and South Korea after the TerraUSD stablecoin and its sister token Luna crashed in 2022, causing investors to lose $40 billion in the process. Both countries have issued extradition requests for Kwon,

South Korean cryptocurrency entrepreneur Do Kwon will be extradited to the United States from Montenegro over the collapse of two digital tokens - TerraUSD and Luna tokens.

Montenegro said Friday it will extradite to the United States the South Korean cryptocurrency specialist Do Kwon, who is also wanted by Seoul for the multi-billion-dollar bankruptcy of his company, Terraform Labs.

Terraform Labs co-founder Do Kwon’s extradition to the United States has been approved by Montenegrin Minister of Justice Bojan Božović after Montenegro’s Constitutional Court dismissed the former executive’s appeal.

Montenegro’s Justice Minister approves the extradition of Terraform Labs founder Do Kwon to the U.S., rejecting South Korea's request.

SARAJEVO (Reuters) -Montenegrin Justice Minister Bojan Bozovic has ordered the extradition of Terraform Labs co-founder Do Kwon, also wanted by South Korea, to the United States, the ministry said on Friday.

Montenegro has approved the extradition of Do Kwon to the U.S over his involvement in the $40 billion collapse of Terraform Labs.

Do Kwon, whose TerraUSD and Luna cryptocurrencies collapsed in a $40 billion crash in 2022, should be extradited to the U.S. rather than his native South Korea, according to a dec