WEMIX PTE to file for provisional disposition following DAXA’s delisting move

WEMIX PTE, the foundation behind the WEMIX token, plans to seek a temporary court injunction to challenge a decision by a group of South Korean crypto exchanges to delist the token, according to local news outlet TechM. In a May 3 press briefing, WEMIX PTE CEO Kim Seok-hwan argued that the Digital Asset eXchange Alliance (DAXA) made the decision arbitrarily and without clear standards. Kim said WEMIX received no additional requests or feedback after the token was placed on a watchlist prior to the delisting. He added that DAXA’s abuse of discretion could cause irreparable harm and said the company will strengthen its defense and present its case in court.