Terraforma Co-Founder Do Kwon is likely to be extradited to South Korea after March 23 following yesterday's Montenegrin High Court Decision, according to CoinDesk, who quoted his lawyer.

Kwon will face criminal charges in the Asian country over the May 2022 collapse of his multibillion-dollar crypto company. Kwon had earlier won an appeal to the same court over its decision to extradite him to the US. However Montenegro's government could still approve extradition to the U.S., a person close to the matter told Bloomberg recently.

Kwon evaded South Korean authorities after Terra's collapse. He was finally arrested last year in Montenegro while attempting to travel with faked documents.

The case has captured the attention of the global crypto community, highlighting the ongoing tensions between cryptocurrency pioneers and regulatory authorities. Kwon's legal battles began following the collapse of Terra's digital currency, which had a catastrophic impact on investors worldwide.

The US authorities had been keen on extraditing Kwon to face charges related to the collapse, but their efforts have been consistently thwarted by Montenegro's judiciary.

The recent ruling sets a precedent for how legal systems may interact with the complex world of cryptocurrency. It raises questions about jurisdiction, international law, and the challenges of regulating an industry that transcends traditional borders.

As this story develops, it will undoubtedly continue to shed light on the evolving relationship between the legal system and the rapidly changing world of cryptocurrency.

This case, in particular, highlights the importance of international cooperation and legal clarity in addressing the challenges posed by digital currencies.