South Korea will review 600 listed cryptocurrency assets

ChainCatcher news, South Korea will implement its first cryptocurrency legislation regarding user protection on July 19. As a result, South Korean financial authorities have notified nearly 30 registered exchanges to review the more than 600 cryptocurrencies listed among them. Under the new law, companies that fail to comply with the regulations may face severe criminal penalties.

An official from the financial authorities stated that exchanges are obligated to review their listed tokens every six months and conduct a "maintenance review" every three months. During this process, platforms including Upbit, Bithumb, Coinine, and Korbit must decide whether to continue supporting the trading of the reviewed crypto assets.