Terra founder Do Kwon has called South Korean prosecutors’ allegations against him “politically motivated” and emphasized that he is not on the run.
On Tuesday, Do Kwon said on Laura Shin’s crypto podcast Unchained:
“We are a little bit disappointed in the way that prosecutors are attempting to create new regulation through criminal court proceedings, whereas that should be within the job description of the legislature, or at the very least the financial regulators.”
Kwon said that he had not seen a copy of the arrest warrant and that all of his knowledge of the charges came from media reports. He is not clear what further accusations, if any, he is facing in addition to allegedly breaking the Capital Markets Act.
“We don’t think that any of the charges pertaining to the Capital Markets Act are applicable because the government’s stance has been that cryptocurrencies shouldn’t be governed by the Capital Markets Act because they’re not securities. We don’t believe these are legitimate charges and are politically motivated,” he said.
Kwon was questioned about his whereabouts, a hot topic on the ongoing story. The founder of Terraform Labs stated:
“I could answer that, but the problem is that I don’t want there to be a bunch of guesswork in terms of which country and which city I have been living in. The easier that I make it for people to figure out my location, the harder it is for me to continue regular life.”
Despite the fact that he is sought, Do Kwon has maintained in interviews that he is not on the run and is eager to cooperate with the police. His present location, however, is unclear, despite allegations by Singapore officials that he departed the city-state in September.
He also stated that he had engaged an on-chain analytical firm that had been given access to all of LFG’s trade data. It will issue a report in the coming weeks that will give a lot more detail.
“There isn’t any embezzlement or theft of the funds or anything to that effect that seems to be cycling through the media,” he said.
Shin also drew attention to tweets by Kwon and the LFG in May that guaranteed the recovery of monies for Terra investors before the collapse, with the smallest holders receiving priority. Kwon, on the other hand, said Do Kwon doesn’t know how long this procedure will take and compared it to a goodwill effort rather than a refund.
“Right now LFG is not at a state where it can make clear disposal of its assets. There is pending civil litigation against LFG,” he said.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Author
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Do Kwon Once Again Affirms He Is Not On The Run
Terra founder Do Kwon has called South Korean prosecutors’ allegations against him “politically motivated” and emphasized that he is not on the run.
On Tuesday, Do Kwon said on Laura Shin’s crypto podcast Unchained:
“We are a little bit disappointed in the way that prosecutors are attempting to create new regulation through criminal court proceedings, whereas that should be within the job description of the legislature, or at the very least the financial regulators.”
Kwon said that he had not seen a copy of the arrest warrant and that all of his knowledge of the charges came from media reports. He is not clear what further accusations, if any, he is facing in addition to allegedly breaking the Capital Markets Act.
“We don’t think that any of the charges pertaining to the Capital Markets Act are applicable because the government’s stance has been that cryptocurrencies shouldn’t be governed by the Capital Markets Act because they’re not securities. We don’t believe these are legitimate charges and are politically motivated,” he said.
Kwon was questioned about his whereabouts, a hot topic on the ongoing story. The founder of Terraform Labs stated:
“I could answer that, but the problem is that I don’t want there to be a bunch of guesswork in terms of which country and which city I have been living in. The easier that I make it for people to figure out my location, the harder it is for me to continue regular life.”
Despite the fact that he is sought, Do Kwon has maintained in interviews that he is not on the run and is eager to cooperate with the police. His present location, however, is unclear, despite allegations by Singapore officials that he departed the city-state in September.
He also stated that he had engaged an on-chain analytical firm that had been given access to all of LFG’s trade data. It will issue a report in the coming weeks that will give a lot more detail.
“There isn’t any embezzlement or theft of the funds or anything to that effect that seems to be cycling through the media,” he said.
Shin also drew attention to tweets by Kwon and the LFG in May that guaranteed the recovery of monies for Terra investors before the collapse, with the smallest holders receiving priority. Kwon, on the other hand, said Do Kwon doesn’t know how long this procedure will take and compared it to a goodwill effort rather than a refund.
“Right now LFG is not at a state where it can make clear disposal of its assets. There is pending civil litigation against LFG,” he said.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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