Due to pressure from the authorities, South Korean crypto exchanges began to exclude some digital currencies from the listing. First of all, this refers to the tokens that pose the greatest risk for investors, according to the news agency Arirang.
Reporters found out that the Upbit exchange decided to delist such coins as Paycoin, Maro, Observer, Solve.Care, and Quiztok.
The Huobi Korea platform has already stopped trading its Huobi token, while Coinbit has excluded eight cryptocurrencies from the listing and announced the suspension of trading for another 28 coins.
Korean exchanges switched to delisting risky digital currencies after certification of trading platforms began. The Institute of Internet and Security of Korea is in charge of issuing such a document.
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According to the legislation on financial transactions, each cryptocurrency platform must obtain a certificate that gives it the authority to serve traders. Local trading platforms are required to issue such a document by September 24 of this year.
In addition, the country’s authorities obliged each exchange to introduce a user identification mechanism.
If the investor refuses such a procedure, then he will not be able to use the services of the platform.