According to Odaily, the Korean Financial Services Commission (FSC) has clarified that it will not directly participate in the inspection of cryptocurrencies listed on Korean exchanges. This statement comes in response to recent market rumors that the Korean financial regulatory authority plans to delist cryptocurrencies that do not meet listing requirements before July this year.
The FSC has stated that the responsibility for token inspection and final delisting announcements will be handled by individual cryptocurrency exchanges and the Digital Asset Exchange Alliance (DAXA), a consulting body for Korean digital asset exchanges. This move indicates a shift in the regulatory approach, entrusting the exchanges and DAXA with the task of ensuring compliance with listing requirements.
