The defendant shall be innocent.

1. No person charged with facts of prosecution shall engage in a business of raising funds from many and unspecified persons without obtaining authorization or permission under finance-related Acts and subordinate statutes or making registration or report, and agreed to pay the total amount of investments or an amount in excess thereof in the future and receive investments;

On September 2017, the Defendant, from around 2017, to D, purchased the virtual currency c, with a chphmphin, or with a twitco or Earbrate, from around 2018. Pursuant to the plan to be listed on February 2, 2018, the Defendant would be able to obtain profits equivalent to 40 times the amount of capital included in the principal after listing.The Defendant received five KRW 1.5 million from D under the pretext of investment, as well as from around February 28, 2018, the amount of virtual currency clives or cash equivalent to 65,697,278 won in total, as indicated in the attached list of crimes, from around 2018.

Accordingly, the defendant did the act of fund-raising without registration.

2. Determination

A. Article 3 of the Act on the Regulation of Conducting Fund-Raising Business without Permission (hereinafter “Act on the Regulation of Conducting Fund-Raising Business without Permission”) prohibits fund-raising business without permission, and Article 2 subparag. 1 of the same Act prohibits fund-raising business without permission (hereinafter “the Act”) provides that “A fund-raising business shall be paid in full or in excess of

The purpose of legislation to regulate fund-raising activities without permission or authorization under related Acts and subordinate statutes is to protect good traders and to establish a sound financial order by regulating the act of raising funds under the pretext of investment, deposit, etc. from many unspecified persons.

(See Supreme Court Decision 2012Do6674 Decided November 14, 2013). B.

The revenue of the instant investment fund shall be invested as provided in the Act on the Collection of Funds without delay.