According to Foresight News, the Financial Supervisory Service (FSS) of South Korea has confirmed that the delisting standards for tokens will be included in the best practices for compliance with the Virtual Asset User Protection Act, which was released in early June. An official from the Financial Supervisory Service said in a call with Bloomberg on Tuesday that the upcoming Best Practices for Compliance with the Virtual Asset User Protection Act will include not only the listing standards for virtual assets, but also guidelines on whether to maintain listed virtual asset transactions. The guidelines will provide a basis for cryptocurrency issuers to delist when problems arise. The guidelines will be released between the end of May and the beginning of June.
Currently, the Financial Supervisory Service is developing guidelines to support cryptocurrency exchanges in self-regulation before the Virtual Asset User Protection Act is implemented in July. The plan proposes best practices including standards for virtual asset issuance, circulation, and trading support, prohibiting the listing of virtual assets with a history of hacking, and publishing Korean white papers and technical manuals when listing overseas virtual assets.
