U.S. prosecutors say shift in Justice Department cryptocurrency policy won't affect case against Do Kwon

U.S. prosecutors said they have no plans to change the charges against Do Kwon, founder of Terraform Labs, according to an earlier memo sent by Solicitor General Todd Blanche. In the memo, Blanche said the Justice Department will no longer take enforcement action against cryptocurrency companies, except in exceptional circumstances. The court postponed the trial date from January 26, 2026, to February 17, 2026. The next pretrial conference in the case is scheduled for June 12, 2025.
Mr. Do Kwon faces charges of commodity fraud, securities fraud, wire fraud and conspiracy to launder money. If convicted on all counts, he could face up to 130 years in prison. Kwon pleaded not guilty to the charges in a New York court earlier this year, shortly after he was extradited from Montenegro to the US.