Korean Government Considers Imposing Unified Listing Standard on Crypto Exchanges After LUNA, UST Collapse
The Korean government has criticized crypto exchanges for their delayed response to the collapse of the two cryptocurrencies. Several top Korean crypto exchanges did not delist LUNA until two weeks later. Some critics said they intentionally delayed delisting to reap more commissions from the incident.
Responding to the lawmakers’ discussion about imposing a unified listing standard across domestic cryptocurrency exchanges, Lee Sirgoo, the CEO of Dunamu, which operates Upbit, the country’s top exchange, explained that it will not solve the problem. “Crypto assets can be sent to overseas exchanges, and many crypto investors are already using non-Korean headquartered exchanges,” he said.
Vice-Chairman Kim So-young of the Financial Services Commission , the country’s top financial regulator, said: “We are going to build close ties with the Ministry of Justice, the prosecution and police, in a bid to monitor any illegal acts in the industry and protect investors’ rights.”
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After the collapse, a lot of authorities thought about regulation.
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