bitcoin
Bitcoin (BTC) $ 67,579.11
ethereum
Ethereum (ETH) $ 3,441.99
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 590.29
xrp
XRP (XRP) $ 0.6097
cardano
Cardano (ADA) $ 0.42683
usd-coin
USDC (USDC) $ 0.999926
matic-network
Polygon (MATIC) $ 0.531911
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.138205
okb
OKB (OKB) $ 41.15
polkadot
Polkadot (DOT) $ 6.12
shiba-inu
Shiba Inu (SHIB) $ 0.000018
tron
TRON (TRX) $ 0.132868
uniswap
Uniswap (UNI) $ 7.83
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,569.10
dai
Dai (DAI) $ 0.999894
litecoin
Litecoin (LTC) $ 71.35
staked-ether
Lido Staked Ether (STETH) $ 3,441.85
solana
Solana (SOL) $ 178.57
avalanche-2
Avalanche (AVAX) $ 31.98
chainlink
Chainlink (LINK) $ 13.96
cosmos
Cosmos Hub (ATOM) $ 6.29
the-open-network
Toncoin (TON) $ 6.96
ethereum-classic
Ethereum Classic (ETC) $ 23.23
leo-token
LEO Token (LEO) $ 5.80
filecoin
Filecoin (FIL) $ 4.59
bitcoin-cash
Bitcoin Cash (BCH) $ 388.64
monero
Monero (XMR) $ 161.14
bitcoin
Bitcoin (BTC) $ 67,579.11
ethereum
Ethereum (ETH) $ 3,441.99
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 590.29
usd-coin
USDC (USDC) $ 0.999926
xrp
XRP (XRP) $ 0.6097
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.138205
cardano
Cardano (ADA) $ 0.42683
solana
Solana (SOL) $ 178.57
matic-network
Polygon (MATIC) $ 0.531911
polkadot
Polkadot (DOT) $ 6.12
tron
TRON (TRX) $ 0.132868

Korean crypto exchanges to avoid ‘mass delistings’ despite new rules

Must Read

South Korea’s crypto affiliation asserts that native buying and selling platforms are unlikely to conduct “mass delistings” at the same time as they re-review 1,333 tokens over the subsequent six months.

South Korean crypto exchanges are set to re-evaluate over 1,000 tokens they listed earlier following the implementation of the Digital Asset Person Safety Act, which seeks to “defend the rights and pursuits” of crypto buyers.

In a Jul. 2 assertion, the Digital Asset Alternate Alliance (DAEX), a commerce union representing 5 Korean crypto exchanges, introduced that beginning Jul. 19, round 20 home crypto exchanges will bear a six-month evaluation interval of 1,333 tokens in response to suggestions not too long ago proposed by South Korean authorities.

Addressing potential market modifications, the alliance emphasised that main home crypto exchanges have already applied key monitoring standards, making mass delistings unlikely.

“Whereas some belongings have been delisted accordingly, the re-evaluation of roughly 1,333 belongings over six months reduces the probability of mass delistings.”

The Digital Asset Alternate Alliance

You may additionally like: South Korean retail giants withdraw from NFT sector amid market slowdown

On the identical time, the alliance famous that solely disqualification standards shall be disclosed, saying that different contents “is not going to be made public to stop misuse available in the market.” As crypto.information reported earlier, the brand new laws will apply to almost three dozen registered crypto exchanges, together with Upbit, Bithumb, Coinone, Korbit, and Gopax, which can conduct preliminary evaluations to find out whether or not to keep up or delist every token.

Beneath the brand new regulatory framework, crypto exchanges should set up a evaluation committee to judge numerous components such because the reliability of the issuing entity, consumer safety measures, expertise and safety requirements, in addition to regulatory compliance.

Tokens issued by decentralized autonomous organizations (DAOs) could not meet commonplace necessities, whereas tokens which have been traded usually for over two years in regulated markets such because the U.S., U.Ok., France, Germany, Japan, Hong Kong, Singapore, India, and Australia shall be topic to a much less strict evaluation course of. Moreover, crypto exchanges shall be banned from accepting any funds in return for itemizing a token.

Learn extra: South Korea’s Ministry of Justice types activity power to damper crypto crimes

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Studio 369 Expands MetalCore IP, Launches MetalCore Arena

What's MetalCore Enviornment?MetalCore Enviornment is an idle battler the place gamers kind and practice groups of mechanized items and...
- Advertisement -

More Articles Like This