New South Korean law requires exchanges to regularly review token listings: https://yakihonne.s3.ap-east-1.amazonaws.com/953281df0361f1a7ff836841c2b978b8d606b035e7d07b8d148c72e50b4d78a7/files/1718625502475-YAKIHONNES3.jpg
The South Korean financial regulator, the Financial Service Commission (FSC), has notified 29 registered crypto exchanges, including Upbit, Bithumb, Coinone, Korbit and Gopax, to regularly evaluate the tokens listed on their exchanges and whether to continue supporting their trading.
South Korea will implement the law on virtual asset user protection by July 19.
A new law in South Korea mandates that cryptocurrency exchanges conduct regular reviews of token listings in order to enhance user protection . The law, known as the Virtual Asset User Protection Act, will be implemented by July 19, 2024 . Under this law, crypto exchanges are required to follow stricter review guidelines for token listings and review existing listed tokens every six months