South Korea to Introduce Stricter Guidelines for Cryptocurrency Listings

The financial authorities in South Korea have announced their intention to introduce new guidelines that aim to impose stricter regulations for token listings on centralized cryptocurrency exchanges.

These guidelines are expected to be unveiled by the end of April or the beginning of May, and are aimed at ensuring a safer and more secure environment for investors who trade in digital assets. The move comes as part of the government’s broader efforts to strengthen the oversight of the cryptocurrency market and promote transparency and accountability in the sector.

South Korean financial authorities are taking steps to ensure the safety and integrity of digital assets traded on domestic exchanges. According to local media News 1, the authorities have announced that they will prohibit the listing of digital assets that have been involved in hacking incidents, unless the root cause of the hack is thoroughly investigated and addressed.

This move is intended to safeguard investors from potential losses due to security breaches, and to promote transparency and accountability in the digital asset market. The authorities have not yet specified the effective date of this new regulation, but it is expected to be implemented soon.

In order for foreign digital assets to be listed on domestic exchanges in South Korea, it is required that a white paper or technical manual be published specifically for the South Korean market.

This ensures that the necessary information regarding the digital asset is available to potential investors and traders in the country, and helps to promote transparency and accountability in the market.

Also Read: Rising Crypto Exchange Insurance Funds: Safeguarding Assets Amid Bull Market Surge – Blockmagic

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