The Montenegrin court paves the way for the extradition of Do Kwon to South Korea.

according to Bloomberg, the Montenegrin Appeals Court upheld the ruling that Terraform Labs Pte. co-founder Do Kwon should be extradited back to his home country of South Korea, thus rejecting the suggestion to extradite him to the United States.

Thursday's ruling is the latest in a series of decisions from Montenegro, which has been facing dual requests from the U.S. and South Korea for the extradition of the notorious former cryptocurrency mogul. The Podgorica court stated on its website on Thursday that no one has appealed the ruling.

The ruling also upheld a fast-track extradition procedure previously issued by another Montenegrin court. After the ruling was announced, Do Kwon's lawyer Goran Rodic responded to Bloomberg, stating that Montenegro would arrange the extradition with the assistance of Interpol and expressed hope that the extradition could be completed "as soon as possible."