PANews reported on January 16 that according to Cointelegrah, in a document filed with the U.S. District Court for the Southern District of New York on January 15, the U.S. Securities and Exchange Commission (SEC) agreed to Do Kwon's legal team's request to postpone the trial date to no earlier than March 18. The document stated: "The SEC agrees to Do Kwon's request for a moderate recess so that he can attend the trial. If the trial date is postponed, the SEC respectfully requests that the trial begin on April 15, 2024." However, although the SEC agreed to the request to postpone the trial date, it opposed separating Do Kwon's case from the Terraform case, and stated that holding two trials would unnecessarily require witnesses, including SEC whistleblowers and retail investors with limited financial resources, to testify twice on the same facts in different trials. The SEC filed a lawsuit in February 2023, listing Do Kwon and Terraform as defendants at the same time, accusing them of planning a "billion-dollar crypto asset securities fraud" related to UST and LUNA. According to previous news, Do Kwon's lawyers wrote to Judge Jed Rakoff on January 11, requesting that the January trial be postponed until he can personally participate in the defense. The legal team said that Do Kwon's extradition proceedings are progressing slower than expected.
