South Korea eyes stricter supervision of token listing and delisting by exchanges

The South Korean government and National Assembly are looking to strengthen oversight of token listing and delisting decisions by domestic cryptocurrency exchanges, potentially curbing their authority, NewsPim reported exclusively. The ruling Democratic Party of Korea (DPK) submitted the digital asset basic act on June 10 including provisions to strengthen oversight of crypto token listings and delistings. Under the bill, such decisions along with unfair trading reviews would come under the supervision of a market surveillance committee—potentially ending the current system where exchanges act independently. According to DPK lawmaker Min Byoung-dug’s office, the original bill aimed to give regulators full authority over token listings and delistings, but after talks with the industry, it was revised to let exchanges keep internal review systems under the oversight of an evaluation committee.