Changes in US encryption laws may affect Do Kwon's criminal charges

According to Cointelegraph, the US federal court has filed criminal charges against Do Kwon, co-founder of Terraform Labs, and the indictment may change as relevant bills in the US Congress advance. On Wednesday, Do Kwon's lawyer and prosecutor held a briefing in front of Judge Paul Engelmayer of the United States Southern District Court in New York. The judge stated that they have taken note of the stablecoin GENIUS Act, implying that it may affect the allegations of Do Kwon securities fraud. The GENIUS Act was passed in the US Senate on June 17th, but still requires a vote from the House of Representatives before President Trump decides whether to sign it into law. The bill focuses on the regulation of payment stablecoins, or may affect the determination of allegations related to Do Kwon and TerraUSD (UST) algorithm stablecoins and platform LUNA tokens.