On Tuesday, the appeals court in Montenegro made a significant decision regarding the extradition request for Do Kwon, the co-founder of Terraform Labs. Previously, there were reports that Justice Minister Andrej Milovic had informally agreed to the extradition, but this recent reversal has changed the course of events.
Kwon's Stay in Montenegro
As of now, Do Kwon is set to remain in Montenegro. On December 14th, the Appeals Court Council overturned the decision made by the Higher Court in Podgorica to extradite him to the United States. The case has been sent back to the lower court for a fresh evaluation and ruling.
Legal Protocols Violated
The reason behind the court's decision to halt Kwon's extradition lies in the violation of specific legal protocols outlined in the Montenegrin Criminal Procedure Code. The court exceeded its jurisdiction in this matter. In Montenegro, the role of the court in extradition cases is limited to verifying the legal grounds for the request.
However, the actual power to suspend or defer the extradition of Do Kwon, the former CEO of Terraform Labs, rests solely with the Minister of Justice. This authority is granted by the Montenegrin legislation on international legal assistance in criminal matters. The appeals court overstepped its legal capacity, leading to the annulment of its decision.
Kwon's Defense Against Fraud Allegations
Do Kwon is facing significant legal challenges from both the United States and South Korea. He has consistently denied all allegations of fraud. The charges against him, brought by the U.S. Securities and Exchange Commission (SEC) and South Korean financial authorities, include commodities fraud, securities fraud, wire fraud, conspiracy to commit fraud, and market manipulation. The final decision on whether to approve or deny Kwon's extradition rests with the Justice Minister.
What are your thoughts on the appeals court's decision regarding Do Kwon's extradition request? Share your opinions in the comments section below.
Frequently Asked Questions
Should you open a Precious Metal IRA
It is essential to be aware of the fact that precious metals do not have insurance coverage before opening an IRA. There is no way to recover money that you have invested in precious metals. This includes losing all your investments due to theft, fire, flood, etc.
You can protect yourself against such losses by purchasing physical gold and silver coins. These items have been around thousands of years and are irreplaceable. If you were to offer them for sale today, they would likely fetch you more than you paid when you bought them.
When opening an IRA account, make sure you choose a reputable company offering competitive rates and high-quality products. A third-party custodian is a good option. They will protect your assets while giving you easy access whenever you need them.
Do not open an account unless you're ready to retire. Don't forget the future!
Which precious metals are best to invest in retirement?
Gold and silver are the best precious metal investments. Both can be easily bought and sold, and have been around since forever. These are great options to diversify your portfolio.
Gold: One of the oldest forms of currency, gold, is one of mankind's most valuable. It is also extremely safe and stable. This makes it a good option to preserve wealth in uncertain times.
Silver: The popularity of silver has always been a concern for investors. It's a great option for those who want stability. Unlike gold, silver tends to go up instead of down.
Platinium: Platinum is another form of precious metal that's becoming increasingly popular. It's resistant to corrosion and durable, similar to gold and silver. It is, however, more expensive than its competitors.
Rhodium: Rhodium is used in catalytic converters. It's also used in jewelry making. It is also quite affordable compared with other types of precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It's also less expensive. For these reasons, it's become a favorite among investors looking to add precious metals to their portfolios.
How Do You Make a Withdrawal from a Precious Metal IRA?
You first need to decide if you want to withdraw money from an IRA account. After that, you need to decide if you want to withdraw funds from an IRA account. Next, make sure you have enough money in order for you pay any fees or penalties.
Consider opening a taxable brokerage instead of an IRA if it is possible to pay a penalty if your withdrawal is made before the deadline. This option is also available if you are willing to pay taxes on the amount you withdraw.
Next, you need to determine how much money is going to be taken out from your IRA. This calculation depends on several factors, including the age when you withdraw the money, how long you've owned the account, and whether you intend to continue contributing to your retirement plan.
Once you have an idea of the amount of your total savings you wish to convert into cash you will need to decide what type of IRA you want. Traditional IRAs allow for you to withdraw funds without tax when you turn 59 1/2. Roth IRAs, on the other hand, charge income taxes upfront but you can access your earnings later and pay no additional taxes.
Finally, you'll need to open a brokerage account once these calculations are completed. Brokers often offer promotional offers and signup bonuses to encourage people into opening accounts. You can save money by opening an account with a debit card instead of a credit card to avoid paying unnecessary fees.
When you do finally decide to withdraw from your precious metallic IRA, you will need a safe space where you can safely store your coins. While some storage facilities accept bullion bars and others require that you purchase individual coins, others will allow you to store your coins in their own safe. You'll have to weigh the pros of each option before you make a decision.
Bullion bars require less space, as they don't contain individual coins. But, each coin must be counted separately. However, keeping individual coins in a separate place allows you to easily track their values.
Some prefer to store their coins in a vault. Others prefer to store them in a safe deposit box. Regardless of the method you prefer, ensure that your bullion is safe so that you can continue to enjoy its benefits for many years.
Statistics
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
External Links
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement account
bbb.org
investopedia.com
irs.gov
How To
Gold IRAs are a growing trend
Investors are increasingly turning to gold IRAs as a way to diversify and protect their portfolios from inflation.
The gold IRA allows owners to invest in physical gold bullion and bars. It can be used as a tax-free way to grow and it is an alternative investment option for people who are not comfortable with stocks or bonds.
A gold IRA allows investors the freedom to manage their wealth without worrying about volatility in the markets. Investors can use the gold IRA for protection against inflation and potential problems.
Investors also benefit from physical gold's unique properties, such as durability and portability.
The gold IRA also offers many other benefits, such as the ability to quickly transfer the ownership of the gold to heirs, and the fact the IRS doesn't consider gold a currency.
This means that investors who are looking for financial safety and security are becoming more interested in the gold IRA.
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By: Jamie Redman
Title: Montenegro's Appeals Court Overturns Extradition Request for Terraform Labs Co-Founder Do Kwon
Sourced From: news.bitcoin.com/montenegro-appeals-court-overturns-extradition-of-terraform-labs-co-founder-do-kwon/
Published Date: Tue, 19 Dec 2023 14:30:32 +0000
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