fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Saturday, April 1, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

South Korea eyes listing rules for crypto exchanges after LUNA scandal

June 8, 2022
in Regulation
Reading Time: 2 mins read
A A
South Korea eyes listing rules for crypto exchanges after LUNA scandal
ShareShareShareShareShare
? Want to work with us? CryptoSlate is hiring for a handful of positions!

South Korean lawmakers are calling on the country’s crypto exchanges to formulate guidelines for listing and delisting cryptocurrencies, Bloomberg News reported.

The legislators are basing the urgency of establishing the new listing rules on the collapse of TerraUSD (UST) and its sister token, Terra LUNA (LUNA). By getting local exchanges to create clear guidelines, the policymakers hope to protect investors against the risks associated with the nascent asset class.

Yun Chang-Hyun, head of the ruling party’s Virtual Asset Committee, is championing the motion. In an interview, Chang-Hyun disclosed that he called for a second meeting with leading South Korean crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax. The meeting is scheduled for the week of June 13.

Per Chang-Hyun, the meeting’s goal is to get the exchanges to sign off on a draft of the non-binding guidelines. Once crypto exchanges reach a consensus, South Korea will implement a self-regulatory system like Japan.

Emphasizing the need for the listing and delisting guidelines, Chang-Hyun said crypto has multiple shortcomings compared to traditional finance. He added that the crypto space has been operating for a long time without order and discipline.

Increasing efforts to protect crypto investors

Previously, Chang-Hyun suggested that the South Korean parliament summon Terra’s CEO, Do Kwon, to answer questions about the collapse of UST and LUNA.

He said:

We should bring related exchange officials, including CEO Do Kwon of Terra, which has become a recent problem, to the National Assembly to hold a hearing on the cause of the situation and measures to protect investors.

Soon afterward, South Korean authorities probed Terraform Labs employees. The investigation sought to uncover whether internal players intentionally manipulated UST and LUNA prices. Moreover, authorities looked into whether the tokens followed the correct listing procedures on local exchanges.

While South Korea is still trying to find the best approach to protect investors without stifling the growth of the crypto ecosystem, Japan has taken a stricter stance.

Japan’s lawmakers passed a stablecoin regulation bill following the Terra fiasco to protect investors. The bill defines stablecoins as digital money. Additionally, the legislation requires stablecoin issuers to link their tokens to the yen or another legal tender.

The U.K. also proposed legislative amendments to regulate crypto companies, including stablecoin issuers. Specifically, the government wants to bring crypto firms under the Financial Market Infrastructure Special Administration Regime (FMI SAR).

Get an Edge on the Crypto Market ?

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Credit: Source link

Related articles

After Losing His Diplomatic Status, Justin Sun Now Intends To Pivot To Crypto Regulation Amid SEC Spat – ZyCrypto

After Losing His Diplomatic Status, Justin Sun Now Intends To Pivot To Crypto Regulation Amid SEC Spat – ZyCrypto

March 31, 2023
Bittrex Shuts Down US Crypto Exchange Due to 'Regulatory Environment' – Decrypt

Bittrex Shuts Down US Crypto Exchange Due to 'Regulatory Environment' – Decrypt

March 31, 2023
ShareTweetSendPinShare
Previous Post

Human Rights Advocates Urge U.S. Lawmakers to Concern Crypto, Saving Crumbling Currencies

Next Post

Ethiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions – Regulation Bitcoin News

Related Posts

After Losing His Diplomatic Status, Justin Sun Now Intends To Pivot To Crypto Regulation Amid SEC Spat – ZyCrypto

After Losing His Diplomatic Status, Justin Sun Now Intends To Pivot To Crypto Regulation Amid SEC Spat – ZyCrypto

March 31, 2023

After Losing His Diplomatic Status, Justin Sun Now Intends To Pivot To Crypto Regulation Amid SEC Spat  ZyCrypto Credit: Source link

Bittrex Shuts Down US Crypto Exchange Due to 'Regulatory Environment' – Decrypt

Bittrex Shuts Down US Crypto Exchange Due to 'Regulatory Environment' – Decrypt

March 31, 2023

Bittrex Shuts Down US Crypto Exchange Due to 'Regulatory Environment'  Decrypt Credit: Source link

Crypto Exchange Bittrex to Wind Down U.S. Operations Next Month – CoinDesk

Crypto Exchange Bittrex to Wind Down U.S. Operations Next Month – CoinDesk

March 31, 2023

Crypto Exchange Bittrex to Wind Down U.S. Operations Next Month  CoinDesk Credit: Source link

Chinese Officials Call for Stronger Global Regulation of Crypto – PYMNTS.com

Chinese Officials Call for Stronger Global Regulation of Crypto – PYMNTS.com

March 31, 2023

Chinese Officials Call for Stronger Global Regulation of Crypto  PYMNTS.com Credit: Source link

U.S. Futures Watchdog Issues Compliance Rule for Crypto Activities Among Members – CoinDesk

U.S. Futures Watchdog Issues Compliance Rule for Crypto Activities Among Members – CoinDesk

March 31, 2023

U.S. Futures Watchdog Issues Compliance Rule for Crypto Activities Among Members  CoinDesk Credit: Source link

Load More
Next Post
Ethiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions – Regulation Bitcoin News

Ethiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions – Regulation Bitcoin News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Why We Opened The Belgrade Bitcoin Hub

Why We Opened The Belgrade Bitcoin Hub

March 25, 2023
Binance Execs Accused of Concealing Exchange Ties to China

Binance Execs Accused of Concealing Exchange Ties to China

March 30, 2023
The Nostr Privacy Paradox

The Nostr Privacy Paradox

March 28, 2023
Can VET Reach $0.1 in April 2023?

Can VET Reach $0.1 in April 2023?

March 30, 2023
How Build On Bitcoin Space Is Bringing Education And Mining To Thailand

How Build On Bitcoin Space Is Bringing Education And Mining To Thailand

March 28, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Bittrex Bids Farewell to US Crypto Market Amid Regulatory Turmoil
  • Avalanche Launches Avaissance to Boost NFT Ecosystem
  • Can Dusk Network Address The Challenges Posed By The Data…
  • FTX EU Launches Website for Customer Withdrawal Requests
  • Matt Damon Shares Story Behind His Crypto Commercial – Featured Bitcoin News
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$28,462.001.85%
  • ethereumEthereum(ETH)$1,826.721.69%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$315.17-0.60%
  • usd-coinUSD Coin(USDC)$1.000.05%
  • rippleXRP(XRP)$0.51-5.30%
  • cardanoCardano(ADA)$0.3913250.87%
  • staked-etherLido Staked Ether(STETH)$1,819.631.55%
  • dogecoinDogecoin(DOGE)$0.0765842.51%
  • matic-networkPolygon(MATIC)$1.111.66%
  • solanaSolana(SOL)$21.043.25%
  • polkadotPolkadot(DOT)$6.281.32%
  • binance-usdBinance USD(BUSD)$1.00-0.19%
  • litecoinLitecoin(LTC)$93.115.18%
  • shiba-inuShiba Inu(SHIB)$0.0000112.20%
  • tronTRON(TRX)$0.0665821.60%
  • avalanche-2Avalanche(AVAX)$17.682.49%
  • daiDai(DAI)$1.00-0.03%
  • uniswapUniswap(UNI)$6.163.08%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,452.001.93%
  • chainlinkChainlink(LINK)$7.561.52%
  • ToncoinToncoin(TON)$2.267.40%
  • cosmosCosmos Hub(ATOM)$11.12-0.05%
  • leo-tokenLEO Token(LEO)$3.38-1.87%
  • stellarStellar(XLM)$0.108118-1.00%
  • ethereum-classicEthereum Classic(ETC)$20.582.02%
  • moneroMonero(XMR)$156.590.09%
  • okbOKB(OKB)$41.890.98%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$125.022.58%
  • filecoinFilecoin(FIL)$5.672.80%
  • hedera-hashgraphHedera(HBAR)$0.0708461.04%
  • lido-daoLido DAO(LDO)$2.404.00%
  • true-usdTrueUSD(TUSD)$1.00-0.02%
  • AptosAptos(APT)$11.20-0.57%
  • quant-networkQuant(QNT)$124.38-0.41%
  • crypto-com-chainCronos(CRO)$0.0691751.71%
  • nearNEAR Protocol(NEAR)$1.983.14%
  • ArbitrumArbitrum(ARB)$1.33-2.44%
  • vechainVeChain(VET)$0.0232442.05%
  • algorandAlgorand(ALGO)$0.2225140.56%
  • apecoinApeCoin(APE)$4.222.74%
  • internet-computerInternet Computer(ICP)$5.131.06%
  • eosEOS(EOS)$1.191.28%
  • fantomFantom(FTM)$0.4662682.29%
  • the-graphThe Graph(GRT)$0.1438231.02%
  • blockstackStacks(STX)$0.911.46%
  • the-sandboxThe Sandbox(SAND)$0.631.75%
  • decentralandDecentraland(MANA)$0.592.96%