The Korea Financial Supervisory Service (FSS) has confirmed the inclusion of token delisting criteria in its "Best Practices for Complying with the Virtual Asset User Protection Act" published in early June.
A Financial Supervisory Authority official said on the phone with Bloomberg on Tuesday that the upcoming "Best Practices for Compliance with the Virtual Asset User Protection Act" will include not only listing standards for virtual assets, but also guidelines on whether to maintain listed virtual asset transactions. The guidelines will provide a basis for cryptocurrency issuers to delist in the event of a problem. The guidelines will be released in late May to early June.
Currently, the Financial Supervisory Authority is developing guidelines to support cryptocurrency exchanges in self-regulating ahead of the implementation of the Virtual Asset User Protection Act in July. It plans to propose standards for best practices including virtual asset issuance, liquidity, and trading support, ban the listing of virtual assets with a history of hacking attacks, and publish Korean white papers and technical manuals when virtual assets are listed overseas.
The Korea Monetary Authority has confirmed the inclusion of token delisting standards in the Virtual Asset User Protection Act
2024-05-10 08:41:43
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