Charges Dropped in the Case against 17-Year-Old “Crypto Trader”

Tashkent, Uzbekistan (UzDaily.com) — A criminal charge brought against a 17-year-old from Bukhara for engaging in unlawful cryptocurrency transactions has been closed, reports ex-deputy Rasul Kusherbayev.

Kusherbayev indicated that the adolescent’s genuine contrition, lack of danger to the public, and his willingness to work with law enforcement led to the court’s decision.

The young individual had his confiscated iPhone 15 Pro Max, which was used to carry out trades on the Binance exchange, returned to him as an outcome of the case dismissal.

Kusherbayev underscored the leniency permitted by the investigative bodies, which allows for the cessation of proceedings without compulsory legal action, highlighting the merciful method employed in this scenario.

“The investigator’s empathetic resolution of the case is commendable. The teenager has been vindicated and transformed from an offender to a role model,” asserted Kusherbayev.

Previous accounts disclosed that the secondary school learner had managed to accrue close to 34 billion soums from trading on the volatility of cryptocurrency values.

Such high-volume transactions caught the eye of the authorities, leading to the confiscation of his property and the commencement of a criminal proceeding under Article 278-8, which can lead to a potential five-year criminal sentence for substantial contraventions of crypto trading laws.