There is a new development regarding the fate of Terra (LUNA) founder Do Kwon! A glimmer of hope may have emerged! Here are the critical dates.

In the case where Do Hyeong Kwon, the co-founder of Terraform Labs and Terra’s (LUNA), is being tried, the defense team requested a two-week postponement of the preliminary hearing application date, which is set for July 1, 2025. According to the petition submitted to the U.S. District Court for the Southern District of New York, the parties believe that extending this period will help "avoid unnecessary application procedures." The prosecution also agrees with this request.

Lawyers stated that Kwon is ready, but that this extension would be beneficial due to the "productive discussions" ongoing 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 agreed on the delivery date of expert witness statements. Accordingly, the defense will submit its statements on December 1, 2025, one month after the government presents its statements on October 31, 2025.

In the hearing held last week, Judge Paul Engelmayer signaled that the newly adopted GENIUS Act could influence the course of the case. The GENIUS ( Guiding and Establishing National Innovation for US Stablecoins ) Act, which passed in the US Senate on June 17, aims to regulate payment-oriented stablecoins.

This bill has not yet been voted on in the House of Representatives and is awaiting President Donald Trump's signature. However, if accepted, it is believed that it could change the legal basis for the charges against Kwon regarding TerraUSD (UST) and LUNA token.

*It is not investment advice.

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