PANews reported on December 11 that, according to Decrypt , Terraform Labs founder Do Kwon will be sentenced in New York by Judge Paul Engelmayer . He has previouslyPANews reported on December 11 that, according to Decrypt , Terraform Labs founder Do Kwon will be sentenced in New York by Judge Paul Engelmayer . He has previously

Do Kwon will be sentenced in New York today; prosecutors are seeking a 12-year prison sentence.

2025/12/11 20:24

PANews reported on December 11 that, according to Decrypt , Terraform Labs founder Do Kwon will be sentenced in New York by Judge Paul Engelmayer . He has previously pleaded guilty to charges of conspiracy to commit commodity fraud, securities fraud, and wire fraud. Prosecutors, in their latest filing, are seeking a 12- year sentence, citing his guilty plea, time served in Montenegro, and upcoming charges in South Korea; AP states that federal sentencing guidelines recommend approximately 25 years. Do Kwon was arrested in Montenegro in 2023 for using a fake passport and was extradited to the United States in 2024 ; the TerraLUNA/UST collapse he spearheaded resulted in investor losses of up to $ 40 billion. His lawyers are seeking a 5- year sentence, along with the forfeiture of $ 19.3 million and some assets as per the plea agreement.

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UK crypto holders brace for FCA’s expanded regulatory reach

UK crypto holders brace for FCA’s expanded regulatory reach

The post UK crypto holders brace for FCA’s expanded regulatory reach appeared on BitcoinEthereumNews.com. British crypto holders may soon face a very different landscape as the Financial Conduct Authority (FCA) moves to expand its regulatory reach in the industry. A new consultation paper outlines how the watchdog intends to apply its rulebook to crypto firms, shaping everything from asset safeguarding to trading platform operation. According to the financial regulator, these proposals would translate into clearer protections for retail investors and stricter oversight of crypto firms. UK FCA plans Until now, UK crypto users mostly encountered the FCA through rules on promotions and anti-money laundering checks. The consultation paper goes much further. It proposes direct oversight of stablecoin issuers, custodians, and crypto-asset trading platforms (CATPs). For investors, that means the wallets, exchanges, and coins they rely on could soon be subject to the same governance and resilience standards as traditional financial institutions. The regulator has also clarified that firms need official authorization before serving customers. This condition should, in theory, reduce the risk of sudden platform failures or unclear accountability. David Geale, the FCA’s executive director of payments and digital finance, said the proposals are designed to strike a balance between innovation and protection. He explained: “We want to develop a sustainable and competitive crypto sector – balancing innovation, market integrity and trust.” Geale noted that while the rules will not eliminate investment risks, they will create consistent standards, helping consumers understand what to expect from registered firms. Why does this matter for crypto holders? The UK regulatory framework shift would provide safer custody of assets, better disclosure of risks, and clearer recourse if something goes wrong. However, the regulator was also frank in its submission, arguing that no rulebook can eliminate the volatility or inherent risks of holding digital assets. Instead, the focus is on ensuring that when consumers choose to invest, they do…
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BitcoinEthereumNews2025/09/17 23:52