Analysis: Upbit Lists Three Coins in Three Days, Possibly Due to Upcoming Regulatory Law
CryptoNewsTerminal Staff31 May, 2024
Analysis: Upbit Lists Three Coins in Three Days, Possibly Due to Upcoming Regulatory Law
Upbit Lists Three Coins in Three Days, Possibly Due to Upcoming Regulatory Law Upbit, the world's second-largest spot exchange, has listed three cryptocurrencies in the Korean won market over the past three days: Bouncetoken (AUCTION), Stargaze Finance (STG), and Beam (BEAM). This is an unusual move, which could be connected to the Virtual Asset Service Provider (VASP) Act that is set to take effect in South Korea in July. The Financial Services Commission (FSC) is set to implement the VASP Act on July 19. Earlier, the Financial Supervisory Service (FSS) announced plans to establish guidelines for self-regulation of cryptocurrency exchanges, including standards for the issuance, circulation, and trading support of virtual assets, a ban on listing virtual assets with a history of hacking, and the issuance of Korean white papers and technical documents when listing overseas virtual assets. "Following the implementation of the law, listing regulations for cryptocurrency exchanges in Korea could become more complex," added WuBlockchain.
