daxa

According to The Block, the Korea Digital Asset Exchange Alliance (DAXA) issued a statement strongly opposing the government's consideration of setting a cap on the shareholding ratio of major shareholders in digital asset exchanges.On Tuesday, DAXA warned in a statement that the proposed restrictions could "severely hinder" the development of the country's digital asset industry and market, and any attempt to artificially alter the equity structure of private enterprises would undermine the foundation of the emerging industry. DAXA is a self-regulatory organization representing the five major cryptocurrency exchanges in Korea—Upbit, Bithumb, Korbit, Coinone, and Gopax.Earlier this month, the Financial Services Commission of Korea proposed to limit the shareholding ratio of major shareholders in cryptocurrency exchanges to between 15% and 20% to address potential governance risks arising from concentrated ownership. The proposal has sparked controversy as it could apply to existing companies with established equity structures.

The South Korean cryptocurrency exchange Upbit announced that due to signs of a security incident on the Flow (FLOW) mainnet, it has temporarily suspended deposits and withdrawals of FLOW since December 27 as a user protection measure. The recovery time will be notified separately.On the same day, the Digital Asset Exchange Association (DAXA) in South Korea decided to issue a "trading risk warning" for FLOW. DAXA stated that it has confirmed signs of security issues on the Flow mainnet and does not rule out taking further measures such as designating trading caution targets or terminating trading support based on the progress of the investigation.

Bithumb announced that AI16Z has been listed as a trading warning token by DAXA, a consortium of member exchanges of the Korean digital asset exchange. The reason is that the project team has issues with timely, transparent, and reasonable disclosure of important matters that may affect the token's value.Currently, deposits for AI16Z have been suspended, and whether to extend the "trading notice," lift, or terminate trading support is expected to be announced in the second week of January.

According to ChainCatcher news, as reported by Newsprime, South Korea's financial regulatory authorities have introduced the first guidelines for virtual asset lending services. Due to intensified competition among exchanges leading to increased risks for investors, regulators have comprehensively banned leverage and cash lending, set individual limits and fee caps, and blocked behaviors similar to short selling. The Financial Services Commission of South Korea announced that it will implement the self-regulatory "Virtual Asset Lending Business Guidelines" formulated by the Financial Supervisory Service and DAXA.The new guidelines focus on three core areas: service scope restrictions, user protection, and market stability. The guidelines explicitly prohibit excessive leveraged lending and cash lending in Korean won, requiring exchanges to use their own assets to provide services, and banning third-party entrustment or indirect lending models. In terms of strengthening user protection measures, first-time users must complete DAXA's online education and adaptive testing, with lending limits set between 30 million to 70 million Korean won based on differences in trading experience; users must be informed in advance before forced liquidation risks occur, and additional margin is allowed; the annual fee rate must not exceed 20%, and the current lending status and liquidation cases of various currencies must be publicly disclosed. Regarding market stability measures, the lending targets are limited to assets ranked in the top 20 by market capitalization or listed on more than three Korean exchanges, excluding trading warning items and suspicious coins with abnormal trading; there is a requirement to establish internal control mechanisms to prevent market fluctuations caused by excessive concentration of specific coins.

ChainCatcher news, according to the official announcement, the South Korean cryptocurrency exchange Bithumb has announced that members of the Korea Digital Asset Exchange Association (DAXA) plan to terminate trading support for ALEX.Bithumb's announcement indicates that trading for ALEX will stop on August 11, and withdrawal functionality will be closed on September 11. The exchange stated that although the project team submitted explanatory materials, they failed to resolve the trading risk warning issue, and after evaluation, it was determined that the token does not meet the standards for continued trading.

ChainCatcher news, Bithumb announced that, according to the decision of the Digital Asset Exchange Association (DAXA), STRIKE has been designated as a trading warning project.Due to deficiencies in the disclosure of important matters and flaws in investor protection measures and response processes, it has been listed as a trading warning project. Starting from July 4, 2025, 16:00 (Korean Standard Time), the recharge service for STRIKE will be suspended.

ChainCatcher news, the Digital Asset Exchange Association of Korea (DAXA) released a statement on May 15, emphasizing that member exchanges have the autonomy to decide on the delisting of crypto assets (termination of trading support), and DAXA does not interfere with such decisions.This statement is seen as a response to the recent controversy surrounding the delisting of WEMIX by exchanges such as Bithumb, Coinone, Korbit, and GOPAX. DAXA stated that, unless special circumstances arise, the decisions made by each exchange based on user protection and market judgment should be respected.

ChainCatcher news, according to official sources, due to the de-pegging of the stablecoin sUSD supported by SNX, Synthetix (SNX) has been designated as a trading warning product by the Digital Asset Exchange Association of Korea (DAXA). Currently, trading platforms such as Upbit and Bithumb have announced the suspension of SNX deposits, with the observation period lasting until the end of May.

ChainCatcher news, South Korean cryptocurrency exchange Bithumb announced that ORB and TEMCO have been designated as investment caution projects by the Korea Digital Asset Exchange Association (DAXA). Currently, Bithumb has suspended ORB and TEMCO deposits and will release a notice regarding the designated extension, lifting / termination of trading support in the third week of November.

ChainCatcher news, according to Digital Today, 20 South Korean cryptocurrency exchanges have jointly established self-regulatory guidelines with the Digital Asset Exchange Alliance (DAXA), outlining best practices for listing and delisting virtual assets. DAXA is an industry organization composed of South Korea's five largest cryptocurrency exchanges. This move is in preparation for the "Virtual Asset User Protection Act," which is set to take effect on July 19.Once the law is enacted, all South Korean cryptocurrency exchanges will officially implement these guidelines. Additionally, within six months from the date of implementation, approximately 1,333 virtual assets currently traded will be reassessed. From January to June of this year, DAXA member exchanges delisted a total of 39 cryptocurrencies. Despite the increased scrutiny, the industry does not expect a large-scale, one-time delisting to occur.

ChainCatcher news, Upbit announced that the member companies of the Digital Asset Exchange Association (DAXA) in South Korea have extended the investment warning designation period for PlayDapp (PLA), planning to extend it to March 11, aiming to strengthen investor protection.

ChainCatcher news, according to News1, the Digital Asset Exchange Association (DAXA) in South Korea will collaborate with the Financial Intelligence Unit (FIU) to accept reports regarding unreported virtual asset operators.The targets of the reports are domestic and foreign virtual asset operators who have not submitted reports in accordance with Article 7 of the Act on Reporting and Using Specified Financial Transaction Information (Special Act) and are conducting unreported business with Koreans. DAXA will conduct a preliminary review of the reports and will forward the results to the FIU. The FIU will respond to DAXA with its determination of whether the unreported crypto business falls under the category of crypto business and will inform the enterprise of the results.

According to ChainCatcher news, South Korean media hankyung reported that the Digital Asset Exchange Association (DAXA), composed of the five major cryptocurrency exchanges in South Korea (Upbit, Bithumb, Coinone, Korbit, and Gopax), will implement a "virtual asset alert system" starting from July 4. This system consists of five types of alerts based on severe price fluctuations, surges in trading volume, increases in deposit amounts, price discrepancies, and concentrated trading by a small number of accounts. It will be triggered through real-time monitoring of each exchange. When a project meets the conditions for each alert, the trading window for the relevant project will display a notification in the form of a badge, lasting up to 24 hours. (Source link)

ChainCatcher news, South Korean cryptocurrency exchange Upbit announced that member exchanges of the Korea Digital Asset Exchange Association (DAXA) plan to terminate trading support for the Augur token REP. Due to the project's abnormal operation, the services provided by the Augur (REP) project are almost unusable.Upbit will delist REP on July 13, with the affected trading pairs being REP/KRW and REP/BTC. (Source link)

ChainCatcher news, according to Decenter, the Digital Asset Exchange Association (DAXA) in South Korea has announced the appointment of lawyer Si-mok Kim from Yulchon LLC and Lee Min-seop, head of the anti-money laundering group at Kim & Chang, as members of the advisory committee.Previously, DAXA disclosed the status and plans for self-regulatory implementation, revealing that it has established an anti-money laundering department, with Upbit responsible for the anti-money laundering subcommittee. (source link)

ChainCatcher news, the Digital Asset Exchange Association (DAXA), composed of South Korea's five major cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax), plans to establish a virtual asset warning system this year to provide users with alerts when there are unusual changes in the price, trading volume, and deposit volume of specific project tokens. In addition, DAXA is discussing the advancement of general guidelines for reviewing token listings and guidelines for token delistings. (Source link)

ChainCatcher news, according to News1, the Digital Asset Exchange Association (DAXA) of South Korea stated that it will implement self-regulatory provisions in the digital asset sector through close consultation with the National Assembly and financial authorities. It has currently appointed 8 external advisors and established 4 subcommittees, including trading support, market supervision, compliance supervision, and education, mainly led by the advisors, and is in the process of developing a common self-regulatory plan. (Source link)

ChainCatcher news, according to Yonhap News Agency, the Digital Asset Exchange Alliance (DAXA), formed by the five major cryptocurrency exchanges in South Korea, will establish a common standard for terminating support for cryptocurrency trading (delisting). DAXA Secretary General Kim stated: "This will serve as a self-regulatory measure to prevent unhealthy assets that do not meet minimum conditions from circulating in the market, thereby avoiding losses for investors, similar to the standards for reviewing new listings. Currently, we are continuing to develop and apply risk indicators and monitoring methods, and we are reviewing the development of procedures that can technically detect these indicators."In addition, DAXA is also developing a system that provides alert notifications when there are sudden fluctuations in the price, trading volume, and deposit amounts of specific projects. (Source link)

ChainCatcher news, the South Korean exchange Upbit announced that the stablecoin WEMIX launched by South Korean gaming giant Wemade has been marked as a suspicious project by the Digital Asset Exchange Association (DAXA). Upbit will conduct a detailed review to determine whether to continue supporting its trading. It is reported that the specific reason is the discrepancy in the token allocation plan information submitted by WEMIX to DAXA member companies, including Upbit, and the lack of clear and timely information provided to investors.ChainCatcher previously reported that Wemade issued 11 million WEMIX stablecoins pegged 1:1 to USDC earlier this month. (source link)