Swathi Kashettar
South Korea will reevaluate approximately 600 cryptocurrencies starting July 19, focusing on issuer reliability, security, and compliance
The Virtual Asset User Protection Act, effective July 19, aims to enhance regulatory compliance within the crypto sphere
Nine key aspects will be considered for listing, including suitability, issuer reliability, user protection, technology security, and legal compliance
Cryptocurrencies that do not meet the new standards may face suspension of transaction support, potentially leading to delisting
Exchanges will review whether to maintain transaction support for each virtual asset every six months, with subsequent reviews every three months