Recently, the South Korean judiciary made a remarkable ruling. The court announced that the former CEO of the blockchain gaming company Wemade, Jang Hyun-guk, was not guilty of the charges of manipulating the circulation of WEMIX crypto assets. This verdict has attracted widespread attention in the industry.

The prosecution had previously accused Jang Hyun-guk of attempting to stabilize prices and boost investor confidence by falsely announcing a suspension of the settlement of WEMIX tokens. However, after a hearing, the court found that there was insufficient evidence to prove that Jang Hyun-guk intentionally manipulated the market.

In addition, the prosecution also accused Wemade of improperly selling over $200 million worth of WEMIX tokens on the market between February and October 2022 during the leadership of Jang Hyun-guk, and failing to make the necessary disclosures required by South Korea's Capital Markets Act. The prosecution also suspects that the company used these tokens to invest in external funds and obtained stablecoin loans using WEMIX as collateral.

This ruling undoubtedly brings new discussion topics to the Crypto Assets market. It not only involves the definition of market manipulation but also concerns regulation and compliance in the Crypto Assets field. As Blockchain technology and Crypto Assets continue to develop, similar legal and regulatory issues may increasingly come to the public's attention.

Although this ruling is good news for Jang Hyun-guk and Wemade, it also reminds participants in the Crypto Assets industry to handle sensitive issues such as market operations and information disclosure more cautiously. In the future, we may see more laws and regulations introduced targeting the Crypto Assets market to ensure fairness and transparency.