The Local media in the South Korea confirms that the best five crypto exchanges of country. They will be able to launch the body of joint consultative for decision-making in second half of the year 2022. However, decision follows such kind of collapse of Terra ecosystem previous month. That had led to some bigger collapse of the crypto market. Hence, YNA also note that exchanges have together vowed to prevent incidents of Luna-like repeat that is through consultative body.
Construction of Crypto Exchanges consultation body
This body will definitely include the CEOs of different five exchanges. It will get divided in Transaction Support, Compliance Monitoring sectors having the important allocation of working staff and Market Surveillance.
Accountabilities of collective will consist of establishing few common screening criteria that is related to listing of the trading support. However, along with the “Restoring some Fairness of Virtual Asset Market as well as Protecting Investors” through establishing as well as enhancing the standards in this domain.
It essentially means that decision through the crypto exchanges in the South Korea for delisting of certain cryptocurrencies. It will take on similar table based at the money laundering assessment. With the issuance that is just beyond disclosure and also sudden fluctuation in price or circulation volume.
However, with the advertising of few products related to cryptocurrency, it will definitely require some kind of investment warning.
Also, consultation body establish the alarm system of cryptocurrency & the delisting criteria. Though, at the time of reportedly offering the crypto evaluation with white papers. For Luna such incident, report has also underline that the decision for pausing the crypto exchanges and deposits & withdrawals also will take.
The collective motive is mainly to establish some of the guidelines for the purpose of listing audits & for introducing the assessment of crypto risk.
