South Korea's new self-regulatory guidelines for listing and placing coins have been released, and 1,333 tokens will be re-evaluated within six months

On July 2nd, according to a report by Digital Today, 20 crypto exchanges in South Korea have jointly developed self-regulatory guidelines with the Digital Asset Exchange Alliance (DAXA), which outlines best practices for listing and placing virtual assets. DAXA is an industry body composed of five major Canadian dollar exchanges in South Korea. The move is in preparation for the Virtual Asset User Protection Law, which is scheduled to be implemented on July 19.
Once the bill takes effect, all South Korean crypto exchanges will formally implement the guidelines. In addition, some 1,333 virtual assets currently traded will be re-evaluated within six months from the date of implementation. A total of 39 cryptocurrencies were removed from DAXA member exchanges between January and June this year. Despite the increased scrutiny, the industry does not expect a large-scale one-off delisting.