South Korea considers circuit breakers for crypto market

South Korea is weighing the adoption of a circuit breaker system in the cryptocurrency market, similar to those used in traditional stock markets, according to a report by MoneyS. The virtual asset committee, led by South Korean financial regulators, is scheduled to hold a meeting on May 1 to discuss incorporating the circuit breaker into best practices for token listing guidelines developed by the Digital Asset eXchange Alliance (DAXA), a crypto consultative group representing major local exchanges. The proposed mechanism would temporarily halt trading for five minutes if futures prices rise or fall sharply—beyond a set threshold compared to the previous day's closing price—and remain there for more than one minute. The measure is intended to curb market volatility following new token listings.