TechFlow news, according to The Block citing South Korean media outlet News1, the South Korean financial regulator will release new guidelines imposing stricter oversight on token listings at centralized cryptocurrency exchanges. The report states that under the guidelines, tokens issued by projects that have suffered hacks and have not yet resolved their security issues may be banned from listing on local exchanges.
In addition, the Financial Services Commission of South Korea may require foreign token projects to prepare market-specific white papers in order to list on domestic exchanges. However, tokens that have already been listed on licensed exchanges for more than two years may be exempt from these new requirements.
The guidelines may also require exchanges to delist cryptocurrencies that fail to properly disclose essential information, such as cases where the actual circulating supply differs from the disclosed amount. The report further notes that the South Korean government plans to publish the new guidelines by the end of this month and is currently soliciting feedback from local exchanges.
