INSUBCONTINENT EXCLUSIVE:
Terraform Labs co-founder Do Kwon, facing criminal charges in US federal court, could see a change in his indictment based on bills
conference before Judge Paul Engelmayer in the US District Court for the Southern District of New York on Wednesday
GENIUS Act, or the Guiding and Establishing National Innovation for US Stablecoins, passed the US Senate on June 17, but still faces a
possible vote in the House of Representatives before US President Donald Trump decides whether to sign the bill into law
and leading to authorities in South Korea and the US pursuing criminal charges against Kwon and other executives.The Terraform Labs
co-founder was arrested in Montenegro in 2023 on charges unrelated to crypto, and, after numerous delays in court, was extradited to the US
in December to face nine felony counts related to securities fraud, commodities fraud, market manipulation and money laundering.Kwon has
pleaded not guilty to all charges and is being held without bail
filingIn 2024, a jury found Terraform Labs and Kwon liable for defrauding investors as part of a civil case with the Securities and Exchange
Senate, the GENIUS Act is being held in the House of Representatives for consideration
House as both chambers consider legislation for digital asset market structure
Any of the bills could affect how US financial regulators like the SEC and the Commodity Futures Trading Commission and authorities treat
cases involving digital assets
United States, money laundering and wire fraud, on the assumption that Trump could direct changes in securities laws affecting his charges
