US Judge Approves Deadline Extension in Do Kwon’s Securities Fraud Case
A US judge overseeing Do Kwon’s securities fraud case approved yet another court deadline extension yesterday as both Kwon’s legal team and prosecutors continue to hold “productive talks.”
Extension Granted
Both parties requested another two weeks to file pre-trial motions, giving them until July 15. This is despite Kwon’s legal team suggesting they’re now ready to file motions. Kwon’s lawyers claim they want to postpone the deadline so they can continue to hold “productive discussions” with US prosecutors. His legal team was also given until December 1 to provide expert disclosures.
Focus on Money Laundering Charge
At a recent court hearing, Kwon’s lawyers suggested that the money laundering charge levied against him is one of the “issues” that they should litigate before the currently scheduled February 17 trial.
Legislation Impact
Judge Paul A. Engelmeyer, who approved the recent extension, also said during this hearing that he was mindful of the GENIUS Act when it comes to securities issues. This legislation recently passed the US Senate and will progress to the House of Representatives, where it will likely merge with the crypto-focused STABLE Act.
Productive Talks
Kwon’s legal team already cited apparently productive talks when it asked to delay a previous court hearing that was scheduled for June 12.
Importance of Pre-Trial Motions
Pre-trial motions can alter a case’s venue, dismiss charges, or withhold evidence from the court. In one example, both the US Securities and Exchange Commission and Justin Sun jointly requested to pause his case as part of a pre-trial motion.
Department of Justice Memo
A pro-crypto memo published by the Department of Justice, when it scrapped a crypto policing unit, was also brought into question at a previous hearing, but ultimately dismissed as something that wouldn’t change the charges at hand.