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Appearing before US Magistrate Judge Robert Lehrburger, Kwon pleaded not guilty to nine charges, including securities fraud, wire fraud, money laundering and commodities fraud. A status conference is scheduled for Jan. 8, allowing for the defense and prosecution to share evidence.
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Kwon was apprehended in Montenegro in 2023 after authorities arrested him for using falsified travel documents. He was sentenced to four months in prison but remained in custody for much longer as courts tussled over his extradition destination.
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On Dec. 27, Montenegrin Justice Minister Bojan Bozovic finally approved Kwon’s extradition to the United States.
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“The gravity of the criminal acts, the place of execution, the order of submission of the request, the citizenship of the requested person, the possibility of further extradition to another country, as well as other circumstances,” the Ministry of Justice said.
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Two US Republican Party lawmakers are calling on the Treasury Department to provide answers to how a Chinese state-sponsored entity hacked and accessed employee workstations.
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In the Dec. 31 letter to Treasury Secretary Janet Yellen obtained by Law360, Senator Tim Scott, a member of the Senate Banking Committee, and Representative French Hill, the House Financial Services Committee vice chair, asked for a full congressional briefing on the breach by Jan. 10.
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Scott and Hill want the briefing to cover the information accessed by the hackers, specific details on how it occurred and steps the Treasury has taken to ensure that similar incidents don’t happen in the future, adding:
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“As you know, Treasury maintains some of the most highly sensitive information on US persons throughout government, including tax information, business beneficial ownership, and suspicious activity reports,” they said.
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The sectors said this information should be a priority to protect from theft or surveillance by foreign adversaries who might seek to harm the US.
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“As such, the fact that a CCP [Chinese Communist Party]-sponsored APT [advanced persistent threat] actor was able to access Treasury’s information systems is unacceptable and raises serious questions about the protocols for safeguarding sensitive federal government information from future cybersecurity incidents,” the lawmakers added.
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“As such, the fact that a CCP [Chinese Communist Party]-sponsored APT [advanced persistent threat] actor was able to access Treasury’s information systems is unacceptable and raises serious questions about the protocols for safeguarding sensitive federal government information from future cybersecurity incidents,” the lawmakers added.
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Comparing BTC to gold on Dec. 5, Wood weighed gold’s $15 trillion market against BTC’s $2 trillion market, suggesting significant potential for growth for the cryptocurrency.
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Copper withdrew its application to register with the UK’s Financial Conduct Authority on Dec. 20, saying it will shift focus to foreign hubs under its new CEO, the firm confirmed to Cointelegraph on Friday.
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Chaired by former UK Chancellor of the Exchequer Philip Hammond, Copper is one of the largest crypto businesses in the UK and has reportedly received millions in investment from Barclays.
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Copper reportedly failed to secure a permanent UK registration when the FCA updated its register of crypto asset businesses in 2022.
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“Refining Copper’s global growth strategy has been my priority since joining, and this has necessitated key decisions on our direction and approach,” Kuchinad said in a statement on Copper’s UK license application withdrawal.
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Despite the withdrawal, Copper continues to see Europe as one of its key markets alongside the US and the Middle East, Kuchinad noted, adding:
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The regulator said it only approved four out of 35 applications for cryptocurrency firm registration in the past year, with 15 applications withdrawn and nine rejected.
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“Over 87% of crypto registrations were withdrawn, rejected or refused for weak money laundering controls,” the FCA said in its 2024 annual report issued on Sept. 5.
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