In the case of Terraform Labs and Terra (LUNA) co-founder Do Hyeong Kwon, the defense team has requested a two-week postponement of the pretrial filing deadline of July 1, 2025. According to the petition filed in the Federal Court for the Southern District of New York, the parties believe that extending the deadline will help “avoid unnecessary filing processes.” The prosecutor’s office agrees with the request.
Lawyers stated that Kwon was ready, but that the extension would be beneficial due to the “productive discussions” between the parties. It was also reported that the requested postponement would not affect other court dates. Accordingly, the start date of the hearing is still scheduled for February 17, 2026.
The parties also reached an agreement on the submission date of expert witness statements. Accordingly, the defense will submit their statements on December 1, 2025, one month after the government’s statements on October 31, 2025.
During a hearing last week, Judge Paul Engelmayer hinted that the newly passed GENIUS Act could affect the course of the case. The GENIUS (Guiding and Establishing National Innovation for US Stablecoins) Act, which passed the US Senate on June 17, aims to regulate stablecoins for payment purposes.
This bill has not yet been voted on in the House of Representatives and awaits President Donald Trump’s signature, but if passed, it could change the legal basis for the accusations against Kwon regarding TerraUSD (UST) and the LUNA token.
*This is not investment advice.
Read the full article here
