Judge Will Decide on Do Kwon’s Extradition
In a recent decision by the Podgorica High Court, Do Hyeong Kwon, the former chief executive of Terraform Labs, is set to be extradited after serving a four-month sentence in Montenegro for fabricating travel papers. The United States and South Korea have both submitted extradition requests, and the final decision on Kwon's destination rests with the court's Justice Minister.
Extradition Bids from US and South Korea
A press release reveals that Do Kwon faces extradition to South Korea for engaging in fraudulent and unfair trading activities. The United States also seeks his extradition for similar violations, including securities fraud and market manipulation.
Although Kwon has agreed to be extradited to South Korea, the Podgorica High Court must make the final determination due to multiple extradition requests. The court has specified that the decision will be made by the Minister of Justice of Montenegro.
The court's announcement further clarifies that if the Minister of Justice approves the extradition, it will be carried out after Kwon completes his criminal sentence for document forgery imposed by the Basic Court in Podgorica.
What's your opinion on Do Kwon's extradition?
We invite you to share your thoughts and opinions on Do Kwon's extradition in the comments section below. Which country do you think he will be sent to, the United States or South Korea?
Frequently Asked Questions
How can I withdraw from a Precious metal IRA?
First decide if your IRA account allows you to withdraw funds. Make sure you have enough cash in your account to cover any fees, penalties, or charges that may be associated with withdrawing money from an IRA.
Consider opening a taxable brokerage instead of an IRA if it is possible to pay a penalty if your withdrawal is made before the deadline. You will also have to account for taxes due on any amount you withdraw if you choose this option.
Next, you'll need to figure out how much money you will take out of your IRA. This calculation is affected by many factors, such as the age at which you withdraw the money, the amount of time the account has been owned, and whether your plans to continue contributing to your retirement fund.
Once you know what percentage of your total savings you'd like to convert into cash, you'll need to determine which type of IRA you want to use. While traditional IRAs are tax-free, Roth IRAs can be withdrawn at any time after you reach 59 1/2. However, Roth IRAs will charge income taxes upfront and allow you to access your earnings later without additional taxes.
Once these calculations have been completed you will need to open an account with a brokerage. To encourage customers to open accounts, brokers often offer signup bonuses and promotions. You can save money by opening an account with a debit card instead of a credit card to avoid paying unnecessary fees.
When it's time to make withdrawals from your precious-metal IRA, you'll need a place to keep your coins safe. Some storage facilities will take bullion bars while others require you only to purchase individual coins. You will need to weigh each one before making a decision.
For example, storing bullion bars requires less space because you aren't dealing with individual coins. However, each coin will need to be counted individually. However, individual coins can be stored to make it easy to track their value.
Some prefer to store their coins in a vault. Some people prefer to store their coins safely in a vault. Whatever method you choose to store your bullion, you should ensure it is safe and secure so you can enjoy its many benefits for many years.
Is buying gold a good option for retirement planning?
Although it may not look appealing at first, buying gold for investment is worth considering when you consider the global average gold consumption per year.
The most popular form of investing in gold is through physical bullion bars. However, there are many other ways to invest in gold. The best thing to do is research all options thoroughly and then make an informed decision based on what you want from your investments.
If you don’t need a safe place for your wealth, then buying shares of mining companies or companies that extract it might be a better alternative. If you are looking for cash flow from your investment, buying gold stocks will work well.
You can also invest your money in exchange-traded fund (ETFs), which give you exposure to the gold price by holding securities related to gold. These ETFs often include stocks of gold miners, precious metals refiners, and commodity trading companies.
Is gold a good investment IRA?
Anyone who is looking to save money can make gold an excellent investment. It's also a great way to diversify your portfolio. There's more to gold that meets the eye.
It has been used throughout history as currency and it is still a very popular method of payment. It's sometimes called “the world's oldest money”.
But gold is mined from the earth, unlike paper currencies that governments create. It's hard to find and very rare, making it extremely valuable.
The supply-demand relationship determines the gold price. The strength of the economy means people spend more, and so, there is less demand for gold. The result is that gold's value increases.
On the flip side, when the economy slows down, people hoard cash instead of spending it. This leads to more gold being produced which decreases its value.
This is why gold investment makes sense for both individuals and businesses. If you make an investment in gold, you can reap the economic benefits whenever the economy is growing.
Also, your investments will earn you interest which can help increase your wealth. You won't lose your money if gold prices drop.
What's the advantage of a Gold IRA?
There are many advantages to a gold IRA. You can diversify your portfolio with this investment vehicle. You have control over how much money goes into each account.
You also have the option to transfer funds from other retirement plans into a IRA. If you are planning to retire early, this makes it easy to transition.
The best thing about investing in gold IRAs is that you don’t need any special skills. They're available at most banks and brokerage firms. You do not need to worry about fees and penalties when you withdraw money.
But there are downsides. Gold is historically volatile. Understanding why you want to invest in gold is essential. Are you looking for safety or growth? Is it for security or long-term planning? Only then will you be able make informed decisions.
If you are planning to keep your Gold IRA indefinitely you will want to purchase more than one ounce. One ounce won't be enough to meet all your needs. Depending on your plans for using your gold, you may need multiple ounces.
If you're planning to sell off your gold, you don't necessarily need a large amount. Even a single ounce can suffice. But you won't be able to buy anything else with those funds.
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement account
A growing trend: Gold IRAs
As investors look for ways to diversify their portfolios and protect themselves against inflation, the gold IRA trend is on the rise.
Owners can invest in gold bars and bullion with the gold IRA. It is a tax-free investment that can be used to grow wealth and offers an alternative investment option to those who are concerned about stocks or bonds.
An investor can use a gold IRA to manage their assets and not worry about market volatility. Investors can protect themselves from inflation and other possible problems by using the gold IRA.
Physical gold is also a great investment option, as it has unique properties like durability, portability, divisibility, and portability.
Additional benefits of the gold IRA include the ability to quickly pass ownership to heirs. Additionally, the IRS does not consider gold a money or a commodity.
This is why the gold IRA has become increasingly popular with investors looking to provide financial security during times of financial uncertainty.
By: Jamie Redman
Title: Do Kwon Faces Extradition Dilemma: Montenegro’s Justice Minister to Decide Between US and South Korea
Sourced From: news.bitcoin.com/do-kwon-faces-extradition-dilemma-montenegros-justice-minister-to-decide-between-us-and-south-korea/
Published Date: Fri, 24 Nov 2023 14:30:47 +0000