PANews reported on December 9th that, according to Finance Feeds, Do Kwon is scheduled to be sentenced in New York on Thursday after pleading guilty to two felony charges. However, the presiding judge is urging prosecutors and defense lawyers to clarify his situation in South Korea. In documents filed Monday, U.S. District Judge Paul Engelmayer requested both sides to detail the charges and the "maximum and minimum sentences" Do Kwon could face if extradited to South Korea. In August, Do Kwon pleaded guilty to wire fraud and conspiracy to commit fraud. These charges stem from his role in the 2022 collapse of Terraform Labs, whose stablecoin and token crash triggered a broader market downturn that caused significant losses across the crypto industry. Do Kwon is expected to serve his sentence in the United States first, but questions raised by Engelmayer indicate that the court wants a full understanding of the concurrent criminal charges he faces in South Korea. The judge also asked both parties whether they agreed that “the time Do Kwon was detained in Montenegro” should not be counted towards any of his sentences in the United States. Do Kwon was detained in Montenegro for four months for using forged travel documents and spent over a year fighting extradition before being transferred to U.S. custody.PANews reported on December 9th that, according to Finance Feeds, Do Kwon is scheduled to be sentenced in New York on Thursday after pleading guilty to two felony charges. However, the presiding judge is urging prosecutors and defense lawyers to clarify his situation in South Korea. In documents filed Monday, U.S. District Judge Paul Engelmayer requested both sides to detail the charges and the "maximum and minimum sentences" Do Kwon could face if extradited to South Korea. In August, Do Kwon pleaded guilty to wire fraud and conspiracy to commit fraud. These charges stem from his role in the 2022 collapse of Terraform Labs, whose stablecoin and token crash triggered a broader market downturn that caused significant losses across the crypto industry. Do Kwon is expected to serve his sentence in the United States first, but questions raised by Engelmayer indicate that the court wants a full understanding of the concurrent criminal charges he faces in South Korea. The judge also asked both parties whether they agreed that “the time Do Kwon was detained in Montenegro” should not be counted towards any of his sentences in the United States. Do Kwon was detained in Montenegro for four months for using forged travel documents and spent over a year fighting extradition before being transferred to U.S. custody.

                                                                               Office of the Comptroller of the Currency’s Jonathan Gould says crypto companies should have a path to supervision in the banking system, which can evolve to embrace blockchain.                     Crypto companies seeking a US federal bank charter should be treated no differently than other financial institutions, says Jonathan Gould, the head of the Office of the Comptroller of the Currency (OCC).Gould told a blockchain conference on Monday that some new charter applicants in the digital or fintech spaces could be seen as offering novel activities for a national trust bank, but noted “custody and safekeeping services have been happening electronically for decades.”“There is simply no justification for considering digital assets differently,” he added. “Additionally, it is important that we do not confine banks, including current national trust banks, to the technologies or businesses of the past.”Read more