South Korea's DAXA publishes "Model Rules for Real-time Monitoring of Abnormal Transactions" and "Standard Advertising Rules"

On July 16, it was reported that the Digital Asset Trading Alliance (DAXA), a consultancy for digital asset exchanges in South Korea, has formulated new regulations ahead of the entry into force of the Virtual Asset User Protection Law on July 19. The Model Rules for Real-time Monitoring of Abnormal Transactions include an alert system originally adopted as a self-regulatory rule, as well as general market monitoring procedures that all exchanges must follow by law. In addition, the Standard Advertising Rules also specify specific procedures and methods that exchanges must follow when conducting advertising campaigns.