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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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Former executives of the encryption exchange may face 10 to 16 months in prison, with the final verdict drawing attention.
Recently, the court held a hearing on the sentencing of a former executive of a well-known Crypto Assets trading platform. The judge generally agreed with the recommendations made by the probation office, which suggested a prison sentence of 10 to 16 months, plus a supervised release period of 1 to 3 years. Currently, the court is listening to the statements of the prosecution, defense, and the defendant himself in order to make a final ruling.
Previously, the prosecution had requested a severe punishment of 36 months in prison and a fine of 50 million USD for the executive. However, the probation office recommended a 5-month probation in its report. Meanwhile, the defense hoped the court would consider house arrest and probation instead of sending the defendant to prison.
This case has sparked widespread attention in the Crypto Assets industry and reflects the growing importance that regulatory agencies are placing on compliance issues within the industry. The final judgment may have far-reaching implications for the entire industry and serve as an important reference for future related cases.