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The judge, who supervises the Terraform Do Do Kwon laboratories, indicated that the law of genius can affect the case

At the Wednesday case conference, the judge, who supervises the case of the co -founder of Terraform Labs, indicated that the genius law could affect the case. Do Kwon faces criminal charges in the US Federal Court, and the judge’s comments indicate that the legislation can change the course of the trial.

according to ReportsKWON lawyers and prosecutors met to attend a conference to the status before Judge Paul Engemayer at the American Provincial Court of the southern region of New York. The judge said he “realizes the verb of the genius.”

The genius law, which symbolizes the direction and creation of the national innovation of the American Stablecoins, was passed by the US Senate on June 17. However, he still faces possible vote In the House of Representatives to US President Donald Trump, he decides to sign a bill in the law.

The legislation, which targets the regulations of Stablecoins, can affect the KWON fee related to the Terrausd algorithm (USDT) Stablecoin and the Luna code of the platform.

The genius law can be a law at the same time as KWON trial

The Senate passed the Genius and is now in detained the House of Representatives. Also, the partner of the draft law, the stablecoin transparency and the accountability of a better Ledger economy, or a stable law, also moves through the House of Representatives, as both rooms consider legislation to the structure of the digital asset market.

When both councils agree on the same text, it is sent to President Trump. The president has 10 days to sign him in the law, with the exception of Sundays. If he does not, the law will become without its name.

Once the law is passed, before agencies such as Federal Reserve, OCC, FDIC, CFTC, and other 180 days to develop the final rules covering supervision, reserve requirements, audit, licensing, disclosure, and how to implement the law.

Therefore, the timetable for Genius is expected to be: the House of Representatives vote in late July, or the conference committee if necessary in late July or early August, the approval of the final Congress by mid -August, the presidential signature by late August, and the bases are made approximately 2026. This may also come early, before the trial of Do Kwon.

Do Kwon’s Terrausd Stablecoin collapse

Like Do Kwon, co -founder of Terraform Labs, in an American court on January 2, 2025. He admitted that he was not guilty of charges caused by the collapse of the Terra, which led to a loss of 40 billion dollars. The accusations of the fall of Terrausd (USDT), the algorithm stablecoin, and its linked coded currencies, which were crashed in May 2022.

American prosecutors say that Coone is a lie to investors about the stability of Terra Bluchin and its products, such as UST. According to them, Kwon’s business was part of a plan to deceive investors thinking about Terra was a real central financial system that works.

In addition, the US Securities and Stock Exchange Committee filed a lawsuit against KWON and TerraForm laboratories for fraud in a civil case. In June 2024, a deal worth $ 4.47 billion was reached. Terraform Labs has ever provided bankruptcy.

However, when the Ust Stablecoin failed, the Terra’s ecosystem collapsed, causing investors a lot of money. The collapse played a major role in a decline in the broader encryption market, which also contributed to the FTX collapse.

Initially, Koon fought his delivery because he wanted to send him to South Korea, where penalties for financial crimes are usually less cruel. After looking at the seriousness of the charges, that is, the part that the United States will play in its case, the Montenegro government decided to return it to the United States on December 31, 2024, and it was sent to the United States for custody. the trial He was appointed for the month of February 2026.

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