According to PANews, South Korea's financial authorities are set to release new guidelines that will impose stricter regulations on centralized cryptocurrency exchanges. The report suggests that tokens issued by projects that have been hacked and have not yet resolved their security issues may be banned from listing on local exchanges.
In addition, the South Korean Financial Services Commission may stipulate that foreign token projects must draft specific white papers for the local market in order to be listed on the country's exchanges. However, tokens that have been listed on licensed exchanges for more than two years may not need to meet these new standards.
The guidelines may also require exchanges to delist cryptocurrencies that fail to properly disclose necessary information, such as discrepancies between the actual circulating amount and the disclosed amount. The report further indicates that the South Korean government plans to release the new guidelines by the end of this month and is currently seeking opinions from local exchanges.