Change In US Crypto Laws May Affect Charges In Do Kwon’s Criminal Case
Do Kwon, co-founder of Terraform Labs, faces potential changes to his indictment in US federal court due to the GENIUS Act, which is currently under consideration in Congress. The act, aimed at regulating payment stablecoins, could influence charges related to the TerraUSD (UST) and LUNA token. Kwon has been indicted on nine felony counts, including securities fraud and money laundering, and has pleaded not guilty. He is currently held without bail, with his trial set to begin in January 2026. In 2024, a jury found Kwon and Terraform Labs liable for defrauding investors in a civil case with the SEC. The GENIUS Act passed the Senate but awaits a vote in the House. Other related legislation, such as the STABLE Act, is also being considered, which may impact how regulators address digital asset cases.
