Prosecutor: Compliance of encryption trading platforms should not be a reason for reducing sentences.

Recently, prosecutors from the Department of Justice expressed their views on the case of the founder of a certain Crypto Assets trading platform. The prosecutors pointed out that although the platform took measures to strengthen Compliance after being investigated, this is not sufficient to be a reason for probation. He emphasized that while this approach is commendable, it should not serve as a basis for reducing penalties.

The prosecutor also specifically mentioned that they do not believe the defendants can be compared to those involved in other well-known Crypto Assets-related cases. However, he warned that if such cases are sentenced to probation, it may encourage more people to take risks and even engage in illegal activities on a larger scale.

It is worth noting that the judge had previously expressed a tendency to adopt the recommendations of the probation office, which suggested considering a prison term of 10 to 16 months, in addition to a supervised release period of 1 to 3 years. This stance sharply contrasts with the views of the prosecutor, raising concerns about the final judgment outcome.

The development of this case has sparked extensive discussions in the Crypto Assets industry regarding Compliance issues. Industry insiders generally believe that strengthening self-discipline and adhering to regulations are necessary conditions for the healthy development of the industry. However, finding a balance between encouraging innovation and ensuring Compliance remains a topic that needs further exploration.