South Korean cryptocurrency exchanges are working to address concerns that new regulations aimed at protecting investors could have a negative impact on trading of smaller digital assets. The Digital Asset Exchange Alliance, an industry trade body, has stated that platforms will review altcoin listings to ensure compliance with user protection laws that will be implemented on July 19. The organization has also reassured investors that mass delistings are unlikely in the immediate future, as the evaluation process will cover 1,333 coins over the next six months. Going forward, all new token listings will be assessed in accordance with the Virtual Asset User Protection law. South Korea is a significant player in the crypto market, with approximately 10% of the population investing in tokens. The majority of trading in the country is focused on smaller coins rather than Bitcoin. The dominance of exchanges such as Upbit means that they will face increased costs in order to meet the requirements of the new regulations.
