As the president of ACE Cryptocurrency Exchange and also the president of the legal firm Jianye Law Office and the president of the professional legal publication “Contemporary Law,” Wang Chenyuan was recently arrested and detained on charges related to cryptocurrency fraud, money laundering, and other financial crimes. The academic community has expressed their views on the matter.
(Previous update:
Breaking News: ACE President Wang Chenyuan’s home raided, 50 million cash and nearly 200 million in cryptocurrency seized! McLaren 720S supercar also confiscated.
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(Background information:
Breaking News: ACE Exchange’s responsible person Wang Chenyuan “swiftly removed” by Jianye Law Office: Director changed to Jin Yuying.
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Prominent domestic cryptocurrency operator, ACE Cryptocurrency Exchange, has been hit with consecutive incidents involving its founder, Pan Yizhang, and its current president, Wang Chenyuan, in connection with “junkcoin fraud cases.” Both teams are currently under investigation by the authorities, with suspected illegal funds exceeding 500 million New Taiwan dollars.
Pan previously worked at KPMG Anhou Jianye, while Wang Chenyuan also served as the director of Jianye Law Office (note: he has been removed from this position), making him a lawyer and elite figure in the legal field. Wang is regarded as a young and talented individual by his peers and also serves as the president of the well-known legal publication “Contemporary Law.” He has frequently appeared at legal-related seminars, presiding over meetings and serving as a prominent speaker.
Image Source: Contemporary Law Facebook Page
Could the February seminar be postponed? Academic community shocked
“Contemporary Law”
They have collaborated with National Chengchi University multiple times to organize seminars. The latest one, scheduled for February 20th, is titled “Exploration of the Authority and Scope of Financial Inspection under Financial Supervision.” Wang Chenyuan was supposed to be the host and one of the panelists. However, due to the impact of being detained by the authorities, the schedule may need to be readjusted or even canceled.
The seminar brings together several heavyweight scholars and practitioners in the domestic legal field, including Huang Shuaisheng, a partner lawyer at Wanguo Law Firm, Guo Dawei, a professor and department head at the College of Law, National Taipei University, Guo Tumu, an honorary professor at the Law School of Fu Jen Catholic University, and Wang Zhicheng, a professor and vice president of the College of Law, Chinese Culture University.
Scholars lament: Wang’s involvement is ironic
The exposure of Wang Chenyuan’s involvement in cryptocurrency fraud has shocked many in the legal community. They express disbelief, saying, “How is that possible?” and “How could such a talented young person do such a thing?” However, an unnamed scholar commented that Wang’s involvement is quite ironic. They said, “He had strong opinions and actions regarding financial regulation, but now he has become implicated himself. Many lawyers who know him find it unbelievable.”
Dynamic Zone also approached the staff involved in the seminar for their opinions on the matter, but they only responded with “regret” and declined to comment further, awaiting the results of the judicial investigation.
Related Reports
Breaking News: ACE President Wang Chenyuan’s home raided, 50 million cash and nearly 200 million in cryptocurrency seized! McLaren 720S supercar also confiscated.
Breaking News: ACE Exchange’s responsible person Wang Chenyuan “swiftly removed” by Jianye Law Office: Director changed to Jin Yuying.
What will happen to ACE users? After the arrest of President Wang Chenyuan, the exchange issued a statement: fully cooperating with the investigation, normal deposit and withdrawal services.