New guidelines imposing tighter regulations for token listings on centralized crypto exchanges will be released by South Korean financial authorities, news agency News1 reported. The report states that tokens issued by projects that have been hacked and have not yet resolved security issues could be prevented from listing on local exchanges, per the guidelines.
Additionally, the report stated that the Financial Services Commission in the country may mandate that foreign token projects develop specific whitepapers for the local market to get listed on domestic exchanges. Yet, tokens already listed on a licensed exchange for over two years may not need to meet these new criteria. The guidelines may also require exchanges to delist cryptocurrencies if their issuers fail to properly disclose necessary information, such as if the actual circulation number does not match the disclosed amoun