DOJ’s Crypto Enforcement Memo Does Not Affect Do Kwon’s Criminal Charges
The U.S. Department of Justice (DOJ) memo dismantling its crypto unit will not affect the prosecution of Do Kwon, co-founder of Terraform Labs. Key points include:
- The DOJ will not pursue charges against crypto exchanges or wallets for user actions.
- Prosecution will maintain charges against Kwon, which include commodities and securities fraud.
- Kwon's attorney indicated the memo might lead to pre-trial motions regarding the classification of cryptocurrencies involved.
- In a related SEC civil case, it was determined that the tokens were securities.
- A status conference is set for June 12, with pre-trial motions expected in July.
- Kwon’s trial date has been rescheduled from January 26, 2026, to February 17, 2026.