Some cryptocurrencies might be on chopping block in South Korea
As part of the reevaluation process, the exchanges are supposed to task their in-house decision-making bodies with determining what digital assets could potentially face delistings.
Potential delisting decisions will be made based on such factors as the state of the developer team behind the token, the level of security as well as regulatory compliance.that the Financial Services Commission , the top financial regulator of the South Korean government, is on track to set up a dedicated division for cryptocurrencies.
The FSC has also issued new guidelines for non-fungible tokens in order to ensure regulatory clarity., the Korean won managed to surpass the U.S. dollar by total crypto trading volume in the first quarter of 2024. Meanwhile, local politicians from different parties were busy pandering to cryptocurrency voters during the recent parliamentary election.
Last year, Bank of Korea Governor Rhee Chang-yong also stressed the necessity of introducing a central bank digital currency amid the growing popularity of stablecoins.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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