Korea Financial Services Commission: Will not directly participate in token inspection and delisting process

ChainCatcher news, according to local media EBN, the Financial Services Commission (FSC) of South Korea announced that it will not directly participate in the inspection of cryptocurrencies listed on Korean exchanges.

Previously, there were rumors that South Korean financial regulators planned to delist cryptocurrencies that did not meet listing requirements before July of this year. The FSC stated that it only inspects cryptocurrency operators and does not directly inspect tokens. The final announcements regarding token inspections and delistings will be the responsibility of the cryptocurrency exchanges and the Korea Digital Asset Exchange Alliance (DAXA), which is the consulting body for Korean digital asset exchanges.