{"id":512925,"date":"2022-11-20T13:55:15","date_gmt":"2022-11-20T10:55:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/south-korea-investigates-crypto-exchanges-for-listing-native-tokens\/"},"modified":"2022-11-20T13:55:15","modified_gmt":"2022-11-20T10:55:15","slug":"south-korea-investigates-crypto-exchanges-for-listing-native-tokens","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/south-korea-investigates-crypto-exchanges-for-listing-native-tokens\/","title":{"rendered":"# South Korea investigates crypto exchanges for listing native tokens"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a38449595bf1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a38449595bf1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/south-korea-investigates-crypto-exchanges-for-listing-native-tokens\/#%E2%80%9D_South_Korea_investigates_crypto_exchanges_for_listing_native_tokens_%E2%80%9C\" >&#8221; South Korea investigates crypto exchanges for listing native tokens &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_South_Korea_investigates_crypto_exchanges_for_listing_native_tokens_%E2%80%9C\"><\/span>&#8221; South Korea investigates crypto exchanges for listing native tokens &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-887bb764>Native cryptocurrencies turned out to be the biggest factor contributing to the demise of numerous exchanges and ecosystems this year, most recently during the FTX collapse. Korea&#8217;s financial authority, Korea Financial Intelligence Unit (KoFIU), took notice of the same as it launched a probe into crypto exchanges in relation to listing their in-house, self-issued tokens.<\/p>\n<p>Crypto exchange FTX and its 130 affiliate firms recently filed for bankruptcy due to a price crash of its in-house token, FTX Token (FTT). While Korean crypto exchanges are barred from issuing native tokens, KoFIU\u2019s probe into the same is to ensure regulatory adherence for investor\u2019s safety, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/koreajoongangdaily.joins.com\/2022\/11\/20\/business\/finance\/korea-crypto-financial-authorities\/20221120175921654.html\">according<\/a> to a local report.<\/p>\n<p>Initial investigations revealed that all crypto exchanges performed lawful operations across South Korea. However, a Financial Services Commission (FSC) spokesperson revealed plans for deeper investigation because \u201cthere are still some doubts related\u201d to in-house token listings.<\/p>\n<p>Flata Exchange is one of the primary suspects and is being investigated for listing its in-house token, FLAT, back in January 2020, as reported by local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> Yonhap. Major exchanges such as Upbit and Bithumb have been cleared by the authorities and the investigations will be more focused on smaller exchanges.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/69f8beb9-a75b-4bc1-8d25-0c07612e2089.png\"><\/figure>\n<p>On average, 297,229 unique South Korean users visited FTX.com monthly, making South Korea top the chart of countries that were most impacted by FTX\u2019s collapse, confirmed a CoinGecko analysis.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>South Korean prosecutors call on Terra co-founder Shin Hyun-seong to cooperate: Report<\/em><\/strong><\/p>\n<p>Based on suspicion of profiting from unwarranted LUNA sales, South Korean authorities froze <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $104.4 million (140 billion won) from FTX co-founder Shin Hyun-seong.<\/p>\n<p>The Seoul Southern District Court approved the decision to freeze Shin\u2019s assets until further investigations are concluded.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/south-korea-investigates-crypto-exchanges-for-listing-native-tokens\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; South Korea investigates crypto exchanges for listing native tokens &#8220; Native cryptocurrencies turned out to be the biggest factor contributing to the demise of numerous exchanges and ecosystems this year, most recently during the FTX collapse. Korea&#8217;s financial authority, Korea Financial Intelligence Unit (KoFIU), took notice of the same as it launched a probe&#8230;<\/p>\n","protected":false},"author":1,"featured_media":512926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvODQ1YTY0ZTEtMGY1ZS00NzZkLTliZTktMmU4MmZhMTg0N2RjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74860,127241,74892,117,70934,72420],"class_list":["post-512925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrency-exchange","tag-ftx-token","tag-tokens","tag-business","tag-regulation","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/512925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=512925"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/512925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/512926"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=512925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=512925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=512925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}