Upbit Delisting Warning List (*Check in advance and manage your risk!) Bitcoin/Ethereum/NFT

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It is reported that they plan to establish best practices for listing on the Korea Exchange and check them through review criteria.

Check the stocks subject to delisting in advance and manage the risks!

📕 Financial Authorities and Exchange Listing Guidelines (June 14 News)

✅ The financial authorities are planning to establish ‘Best Practices for Virtual Asset Trading Support (Listing)’ and support its implementation from July 19th.

The coin listing criteria consist of a total of 9 requirements, and a maintenance review will be conducted once per quarter.

🔔 Official Review Criteria

• Reliability of the Issuer
  : Cases where major information related to the virtual asset is not disclosed
  : Cases where repeated arbitrary changes are made without justifiable reasons
  : Including the failure to verify the main wallet information of the issuer and operator

• User Protection Measures
  : Failure to verify the important explanatory materials (white paper) related to the virtual asset prepared by the issuer and operator
  : Cases where a blockchain explorer is not available

• Technical Security
  : Occurrence of security incidents with unknown causes or that cannot be resolved in virtual assets, wallets, or distributed ledgers
  : Unverified source code of the token smart contract embedded in the distributed ledger, inappropriate setting of important event functions

• Legal Compliance
  : Self-issued coins, dark coins, and virtual assets excluded from the scope
  : The purpose of using or the likelihood of using illegal acts, violation of current laws and regulations by supporting virtual asset trading, etc.

⚠️ If judged as unqualified in the above 8 items, listing cannot be proceeded, and the principle that Burger Coin must also comply with the listing conditions.

(However, for virtual assets that have been normally traded in qualified overseas markets with a sufficient regulatory system for 2 years or more, some review requirements will be eased.)

‼️ Clear criteria will be established for coin circulation.

• Whether staking volume will be included in the circulating supply is typical.
• According to the financial authorities' review materials, staking volume must be marked with a lockup to be excluded from the circulating supply.
• Volume provided to and deposited in DeFi projects can be circulated at any time, so it will be included in the circulating supply.
• In the case of coins issued on multiple blockchains, if coins can be swapped through a bridge provided by the issuing foundation, all of them will be included in the circulating supply.

❓ Regulatory measures for stablecoins are also under review.

• The plan is to consider prohibiting the issuance of uncollateralized stablecoins that do not reference a certain legal tender as a reference asset.

🔍 Other contents

• Financial authorities are considering how to subdivide coin-related businesses (industries).
• Considering the introduction of an integrated disclosure system

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