Following the approval, it is now up to Montenegro’s Minister of Justice to decide which country gets the first crack at Do Kwon, who is currently detained in Montenegro.
Do Kwon's lawyers claim that their client agreed to submit to the deposition, which was requested by the SEC to take place in October, if it would happen in Montenegro, where he is currently jailed.
The LUNA and TerraUSD founder was taken into custody over charges of document forgery, but he will complete his sentence in a month as the time he spent in detention will be considered.
Apart from the extradition battle and falsification charges, Do Kwon is set to be questioned by the Special State Prosecutor’s Office over his relationship with local politician Milojko Spajic.
Prosecutors from the High Court in Podgorica revoked the bail conditions on the fact that it “could not establish the value of their assets just based on their statements.”
The Montenegro prosecutor's appeal revolves around the fact that the bail conditions for Do Kwon and Han Chang-Joon appear to be a slap on the wrist compounded by the flight risk posed by the duo.
Terraform Lab's Do Kwon and Han Chang-joon would be subjected to house arrest under police supervision on a €400,000 (approximately $436,000) bail each.
Do Kwon and his accomplice Han Chang-joon were arraigned before a Montenegrin Basic Court for holding fake Costa Rican passports—both could face up to five years if convicted.
South Korea and the United States are in a tug-of-war game on who gets to keep embattled Terraform Labs founder Do Kwon, who is set to stand trial in Montenegro before his extradition could be processed.