Upbit, Bithumb, Coinone, Korbit, and Gopax plan to raise awareness in the crypto industry by launching a joint consultative body later this year.
The five leading cryptocurrency exchanges in South Korea – Upbit, Bithumb, Coinone, Korbit, and Gopax – will reportedly set up a joint consultative body that will oversee the local digital asset market, scheduled to go live during the second half of 2022.that Korea’s major platforms will join forces to grant additional protection for crypto investors. They vowed to sign a business agreement and then launch a joint consultative body to improve the regulatory standards in the space.
The consultative body will be divided into three areas: transaction support, market monitoring, and compliance monitoring. The first action is scheduled for September this year, when the exchanges will prepare a virtual currency warning system and delisting standards. Additionally, the companies will provide valuable information, including evaluation reports and white papers.
If there are any indications that certain cryptocurrency projects are related to money laundering activities or they pose a threat to the financial system, investors will receive a warning. In October, the platforms plan to introduce guidelines for listing screening. They will also periodically check the possible risks in the market and act urgently in need.Subsequently, from January 2023, new crypto investors will not be allowed to enter the ecosystem before completing the relevant educational video.
South Korea has been in the spotlight of the digital asset scene because of last month’s fiasco surrounding the local blockchain platform – Terra. Its native token – LUNA – and its algorithmic stablecoin – UST –
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Litecoin MimbleWimble Delisted by Several Exchanges for Being Too Privacy-ProtectingFive South Korean crypto exchanges have delisted Litecoin after users adopted the MimbleWimble upgrade.
Weiterlesen »
Investors File Class Action Lawsuit Against Binance US Following LUNA-UST FiascoTerra's meltdown continues to cause suffering for some as Binance US has been served with a class-action lawsuit.
Weiterlesen »
Report: South Korean Crypto Exchanges to Create Body to Preempt Another Terra LUNA Type of Collapse – Exchanges Bitcoin NewsThe consultative organization is expected to achieve its objectives by applying standards that are endorsed by crypto exchanges.
Weiterlesen »
South Korea says North completed prep for new nuclear testSouth Korea’s top diplomat says North Korea has completed preparations for a new nuclear test and only a political decision by the country’s top leadership can prevent it from going forward.
Weiterlesen »
Bitcoin, Ethereum Technical Analysis: BTC Drops Below $24,000 to Lowest Level Since December 2020 – Market Updates Bitcoin NewsBitcoin fell to its lowest level since December 2020 to start the trading week, as crypto markets continue to plunge.
Weiterlesen »
Binance warns against use of litecoin's Mimblewimble privacy featureThe crypto exchange won't accept litecoin transactions using MimbleWimble Extension Blocks (MWEB).
Weiterlesen »