Regulation
New South Korean regulations will remove several cryptos
The new South Korean regulations will lead to the delisting of several cryptocurrencies, which will be released in early June. The next “Good practices for compliance with the law on the protection of users of virtual assets” will lead to this delisting. South Korea’s financial watchdog is drafting guidelines to facilitate self-regulation of crypto exchanges. Key components include standards for virtual asset issuance volume, distribution volume and transaction support. Measures like banning the listing of virtual assets with a history of hacking will be considered. Korean white papers and technical manuals will also be required for foreign virtual assets.