As AI applications soar in popularity, Serbia is looking to make a name of its own with help from the United Arab Emirates, striking a collaboration that will further explore localizing LLMs for other AI use cases.
Documents from the Serbian Business Registry confirmed that Kwon established a company called Codokoj22 d.o.o. Beograd with the principal business activity being consultancy services.
South Korean news outlets speculate that Do Kwon has been hiding out in Serbia since December 2022, but Terra’s fugitive founder continues to protest his innocence via Twitter.
The raid resulted in the seizure of $1 million worth of digital assets, luxury apartments, and three cars, with over 250 suspects interviewed by police.
It remains unclear why Kwon chose Serbia, but South Korean authorities are not ruling out the possibility that the embattled founder has a “special helper” in the country.
Serbia is among the first nations to regulate the digital currency space, and the digital currency landscape is slowly evolving in the country, according to Finance Minister Sinisa Mali.
The law went into effect on December 29, with the government giving the public six months before it starts applying it.
