Former executives of the encryption platform may face 10-16 months in prison.

Recently, the court made significant progress regarding the judgment of a former executive of a certain Crypto Assets trading platform. It is reported that the presiding judge generally agreed with the recommendations of the probation office, leaning towards imposing a sentence of 10 to 16 months of imprisonment, along with a supervised release period of 1 to 3 years. Currently, the judge is hearing the final arguments from the prosecution, defense, and the defendant himself in order to make a final ruling.

The case has attracted widespread attention. Previously, the prosecution requested the court to impose a severe penalty of 36 months of imprisonment and a fine of $50 million on the defendant. However, the probation office proposed a relatively lenient recommendation in its report, advocating for 5 months of probation for the defendant. Meanwhile, the defense is striving for house arrest and probation treatment to avoid the defendant serving time in prison.

This judgment reflects the cautious attitude of the judicial system in handling cases related to Crypto Assets, and also embodies the differing perspectives on how to balance punishment with the opportunity for reform. Regardless of the final outcome, this case will serve as an important reference for the regulation and legal practices of the Crypto Assets industry.