Korea’s DAXA Introduces General Rules To Consider Trading Support From October 10

The Digital Asset Exchange Alliance (DAXA) consisting of five major South Korean exchanges plans to issue joint guidelines on online review of digital assets from October 10, including Detailed content such as risk assessment, technical risk assessment and business risk assessment.

The Digital Asset Exchange Alliance (DAXA), which includes the five major South Korea cryptocurrency exchanges Upbit, Bithumb, Coinone, Korbit and Gopax, plans to lay out common guidelines for consideration of trading support from October 10.

Today, DAXA revealed this fact and said that the guidance includes detailed items such as intrinsic risk assessment, technical risk assessment and business risk assessment. The five exchanges independently decide on trading support according to each company’s standards and procedures during the listing review process, but during this process, item evaluation according to general guidelines must be followed presently.

DAXA is also discussing risk metrics and monitoring methods for each cryptocurrency. Among them, priority is given to the selection of a risk index and monitoring method for LUNA-related stablecoins and coins issued by overseas exchange operators.

Once the development process to apply the indicators is completed, if agreed risk indicators are found, the company plans to respond together within a certain period of time, such as specifying important stocks or decide to end support trading.

The number and proportion of external experts participating in the list review were also determined. According to DAXA’s minimum standard of involvement of outside experts, which will be implemented on the same day, from the 1st of the following month, each company’s listing review committee must include at least two experts outsiders, or at least 30% or more.

“Each exchange is doing its best to establish an implementation plan through section-by-part discussion and execute it quickly.”

DAXA President Lee Seok-woo said

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News