Terra’s Do Kwon says charges against him not legitimate and politically motivated

In a rare update on what has become one of the most high profile events in the industry this year, Do Kwon said that the charges against him by the South Korean prosecutors are not legitimate and political.

He believes that the order doesn't include an international arrest warrant, since he hasn't received a copy of the red notice. He said he is complying with all the requests from the prosecutors.

He told Laura Shin that every nation can see the red notice in a different way. He said he would do everything to get a better result.

South Korean prosecutors made a request to the organization that facilitates international police information exchange and arrest requests. Kwon was ordered to surrender his passport or lose it.

I haven't lived in South Korea since the end of last year. It wouldn't be accurate to say that the order is about me. He said he would travel to South Korea.

According to media reports, he has left Singapore. He refused to reveal where he is currently residing due to personal security and privacy concerns.

The Financial Services Commission is tasked with formulating regulation policy but is venturing into enforcements. The Korean government doesn't classify Cryptocurrencies as securities. He said that it wasn't within their jurisdiction to regulate cryptocurrencies.

He said that they were a little disappointed in the way that prosecutors were attempting to create new regulation through criminal enforcement proceedings whereas that should be within the job description of the legislature.

In a matter of days in May this year, countless individuals' personal savings were wiped out as a result of the collapse of the Terra Ecosystem's stable coin UST and cryptocurrencies. He took full responsibility for the failure of the block chain.

I own up to the responsibilities. It is hard to have to content with so much loss. The scale of the financial and emotional and economic damage that happened here is difficult to live with.

As Luna grew and became one of the world's largestBlockchain ecosystems, Kwon earned a reputation for calling the critics of hisBlockchain poor. He said on the show that he should have held himself to higher standards. It doesn't mean I should have followed suit because there are anonymous cartoon characters that are more liberal.

In the wide-ranging interview with Shin, in which Kwon talked about his past work, he reiterated his belief that the world still needs decentralization.

Decentralized money is one of the most important problems that scurvy has to address. What are we doing here with it? The recent regulatory clampdown on censoring transactions and arresting developers is indicative of how we need to work towards that future.

He told developers to learn from their mistakes and keep trying to create money that is more transparent and resistant to failure.

He said that he is not working on Luna Classic.