Guidelines for Regulating Token Listings Introduced in South Korea

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by Giorgi Kostiuk

3 years ago

Made with AI

New guidelines are being introduced by South Korean financial authorities to enforce stricter regulations on token listings on centralized crypto exchanges. These guidelines aim to prevent tokens from projects that have experienced hacking incidents without addressing vulnerabilities from being listed on local exchanges. Additionally, the Financial Services Commission (FSC) in South Korea may require foreign token projects to create customized white papers for the local market to secure listing on local exchanges. However, tokens already listed on licensed exchanges for over two years may be exempt from these requirements. To ensure transparency and investor protection, exchanges may be required to delist cryptocurrencies if issuers do not disclose key information properly, including cases where actual circulation numbers do not match the declared amounts. South Korea boasts a dynamic cryptocurrency market, with Upbit being the largest exchange in the country, accounting for approximately 9% of global spot volume with a transaction volume exceeding $221 billion in March alone.

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