A new situation in which the five major exchanges in South Korea unify the listing and delisting standards of tokens

Against the backdrop of the rapid development of digital assets today, exchanges in various countries are seeking a standardized trading environment to promote the healthy development of the market. On June 13, the five major exchanges in South Korea jointly issued unified listing and delisting standards for autonomous protocol tokens. This move will undoubtedly have a profound impact on the cryptocurrency market in South Korea and even the world. This article will delve into the background, significance, implementation details, and possible challenges and opportunities of this policy.

First of all, it is crucial to understand the background of this policy. In recent years, with the continuous maturity of blockchain technology, more and more projects have chosen to raise funds through token issuance. However, there are many types of tokens on the market, and the quality is uneven, which leads to huge risks for investors. As an important participant in the global digital currency market, South Korea experienced a reshuffle of the cryptocurrency industry as early as 2018, and many non-compliant projects were forced to withdraw from the market. Therefore, the formulation of unified listing and delisting standards aims to enhance market transparency, protect the rights and interests of investors, and promote the sustainable development of the market.

In the implementation of this policy, the five major exchanges in South Korea will jointly formulate a set of standards covering token review, trading rules, information disclosure and other aspects. This is not only a supplement to the existing market rules, but also a guide for emerging projects in the future. By establishing clear standards, exchanges can be more consistent in token audits and reduce the risks brought by subjective judgments. At the same time, investors can also have a clearer understanding of the basic situation of token projects, so as to make more rational investment decisions.

It is worth noting that the implementation of this policy is not achieved overnight. It takes time for exchanges to improve the audit mechanism and ensure that every token project has been rigorously evaluated. In addition, market participants also need to adapt to the new rules and adjust their investment strategies. This process may face some resistance, but in the long run, a standardized market environment will undoubtedly attract more investors and high-quality projects to join the game and form a benign market ecology.

Globally, more and more countries and regions have begun to pay attention to the regulation of digital currencies. Compared with many countries, South Korea's regulatory measures are relatively strict. The token listing and delisting standards jointly issued by the five major exchanges this time mark an important step for South Korea in digital currency regulation. This not only provides a reference for the supervision of other countries, but also sets an example for the standardized development of the global digital currency market.

From the perspective of investors, unified listing and delisting standards will significantly improve the transparency and security of the market. In the past, many investors could only rely on personal experience or gossip when choosing tokens, which not only made them easy to be deceived, but also made the market full of uncertainty. Now, with the introduction of unified standards, investors can fully understand the background, team and development plan of token projects through the information provided by exchanges, so as to make more rational investment decisions.

In addition, the implementation of unified standards will also help improve the liquidity of tokens. Compliant token projects in the market will be more likely to obtain listing approval from exchanges, thereby attracting more investors to participate in transactions. This virtuous cycle will further promote the development of the market and form a more active trading environment.

However, the implementation of any policy is not without challenges. In the process of formulating unified standards, exchanges need to balance the interests of all parties and ensure the fairness and rationality of the standards. Some projects may face difficulties in listing due to the requirements of the standards, which may result in some high-quality projects being blocked from the door. In addition, the market may experience short-term fluctuations, and investors need to remain rational and avoid making wrong decisions due to fluctuations in market sentiment.

In the long run, this move by the five major exchanges in South Korea will promote the healthy development of the entire digital currency market. By establishing a unified standard for token listing and delisting, the market will gradually become standardized, and investors' confidence will be restored, thereby attracting more funds to flow into this field. As the market matures, more high-quality projects will emerge in the future, bringing rich returns to investors.

Against the backdrop of increasingly fierce competition in the global digital currency market, South Korea's decision is not only a regulation of the domestic market, but also a positive response to the global market. In the future, with the advancement of technology and the evolution of the market, the supervision and trading rules of digital currencies will continue to improve, bringing more opportunities and challenges to investors.

In summary, the unified autonomous protocol token listing and delisting standards issued by the five major exchanges in South Korea on June 13 will bring a series of far-reaching impacts to the market. This policy not only helps to improve the transparency and security of the market, but also provides investors with a more rational basis for decision-making. In future development, market participants need to work together to adapt to this change and promote the healthy development of the digital currency market. It is hoped that this policy will bring new vitality to the global digital asset market.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The South Korean government recently launched a series of investigations into whether local exchanges have fulfilled their investor protection responsibilities in response to the collapse of UST and LUNA. According to a report by Korean media "Edaily" today (7), the ruling party has arranged for several Korean financial regulatory agencies (Financial Services Commission, Regulatory Bureau, Intelligence Bureau/FIU...) to hold a meeting with the five local exchanges (Upbit, Bithumb, Korbit, Coinone, Gopax) next Monday (6/13). 

Exchanges are expected to propose autonomous drafts to unify listing and delisting standards 

The five major exchanges have listed LUNA, but the listing and delisting standards are different, which has caused the government to question whether these exchanges have not fulfilled their investor protection responsibilities and related commission income of up to 10 billion won: 

Coinone, Korbit and Gopax stopped trading on May 10 

Bithumb stopped trading on May 11 

Upbit officially stopped trading on May 13 at the latest 

According to the investigation data of the Financial Services Commission, the total loss caused by investing in LUNA is about 52 trillion won, and the total number of victims in South Korea is 280,000. In this regard, the head of the National Human Rights Commission, Sung Il-jong, said at a meeting with the party government last month: If the exchange had been properly evaluated, LUNA might not have been listed on the five major exchanges, and the collapse caused by design defects might have been controlled in advance.

The report pointed out that the five major exchanges are expected to propose a draft autonomous agreement on the day of the meeting on the 13th, planning a series of rectification measures, and the first step will start with unifying the listing and delisting standards of cryptocurrencies, and the party government is also expected to confirm it. At present, the details of the draft are not clear. Seol Jae-
geun, vice president of the Korea Blockchain Association, said: We will work with association members to formulate autonomous guidelines on token listing, disclosure transparency and evaluation.

It is also worth noting that according to a report by Newspim at the end of May, the Korean Digital Asset Committee will be launched as early as this month, and is expected to formulate guidelines on digital asset listing standards, unfair trading monitoring, transparency disclosure, and investor protection measures, becoming the country's command center for formulating virtual asset policies and enforcing supervision.