😱🫨'Delist' rumors for altcoins created panic: Statement from the authorities

Rumors spreading in #SouthKorea , one of the most important markets for #altcoins , caused people to panic and sell. Many changes turned out to be unfounded.

In South Korea, one of the most important markets for altcoins, unfounded "#delisting " rumors caused panic among the images.

According to local media reports, it is claimed that regulators will examine 600 cryptocurrencies distributed on exchanges on a quarterly basis, starting from the month of publication, and will suspend the trading of cryptocurrencies that meet the criteria. On the other hand, the statement from the South Korean regulator FSS says: "FSS only supervises crypto exchange operators and their assets are directly examined." It has been said.

It was claimed that, in addition to the rumors spread among investors, some delistings were clarified and that these were published in a list as "entities that could be delisted in June". Although it was confirmed by both the manager and the stock exchange that none of these lists existed, prices could not be prevented from falling due to panic selling.

Women are scheduled to be elected on July 19

An unnamed stock exchange official said, “It is not much different from the previous ones in terms of buying and selling support. We do not intend to cause harm by hiding, such as mass delisting. "Such lists have been distributed in relevant communities many times in the past, but most were inaccurate." aforementioned.

The real source of fears is the Virtual Asset Users Protection Law, which will be on the agenda in the coming months. The law, which is planned to be enacted by women on July 19, requires exchanges in countries such as Upbit, Bithumb, Coinone and Korbit to operate within certain rules.

South Korea has a large share especially in altcoins in recent months. While the country's largest exchange, Upbit, entered the top 5 among global exchanges, the Korean Won became the most traded currency in April, along with the dollar, #BTC and other cryptocurrencies.