DAXA sets new standards for crypto bonds and South Korea issues stricter crypto laws to improve security and transparency

Südkoreas Digital Asset Exchange Association (DAXA) hat kürzlich neue ethische Standards bekannt gegeben, um die Informationsasymmetrie auf dem Kryptowährungsmarkt zu beseitigen. Die Allianz, bestehend aus großen Kryptowährungsbörsen wie Upbit, Bithumb und Coinone, hat diese Standards eingeführt, um verantwortungsvolle und ethische Praktiken in der Branche der virtuellen Vermögenswerte zu fördern. Die DAXA hat zwei Standards eingeführt: Die DAXA Internal Control Standards und den Code of Ethical Conduct for Virtual Asset Operators. Diese Standards sollen die Transparenz, den Verbraucherschutz und die allgemeine Integrität auf dem Markt verbessern. Einer der wichtigsten Punkte der Standards besagt, dass Kryptowährungsbörsen, die der DAXA angehören, einen externen …
South Korea's Digital Asset Exchange Association (DAXA) recently announced new ethical standards to eliminate the information asymmetry on the cryptocurrency market. The alliance, consisting of large cryptocurrency exchanges such as Upbit, Bithumb and Coinone, has introduced these standards to promote responsible and ethical practices in the industry of virtual assets. The DAXA has introduced two standards: the DAXA Internal Control Standards and the Code of Ethical Conduct for Virtual Asset Operators. These standards are intended to improve transparency, consumer protection and general integrity on the market. One of the most important points in the standards states that cryptocurrency exchanges that belong to the DAXA, an external ...
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South Korea's Digital Asset Exchange Association (DAXA) recently announced new ethical standards to remove information asymmetry on the cryptocurrency market. The alliance, consisting of large cryptocurrency exchanges such as Upbit, Bithumb and Coinone, introduced these standards to promote responsible and ethical practices in the industry of virtual assets.

The DAXA has introduced two standards: the DAXA Internal Control Standards and the Code of Ethical Conduct for Virtual Asset Operators. These standards are intended to improve transparency, consumer protection and general integrity on the market.

One of the most important points in the standards states that cryptocurrency exchanges that belong to the DAXA have to consult an external right -wing expert if they make decisions about the notation or deletion of cryptocurrencies. This legal expert must not have any conflicts of interest to ensure an impartial assessment of the legal effects of such decisions.

This DAXA initiative follows the new cryptocurrency regulations adopted by the South Korean National Assembly. The law aims to create a legal framework for regulating cryptocurrencies and to improve the safety and protection of user money within the cryptocurrency ecosystem.

According to the new law, digital asset service providers (VASPS) are obliged to implement measures such as the separation of user funds from your own funds and the protection of customer deposits. In addition, the Virtual Asset User Protection Act is introduced, which defines even stricter regulations for VASPs. Accordingly, cryptor reserves must be saved in cold wallets in order to improve the security against potential hacker attacks or theft, and all transactions must be documented comprehensively.

Legislation also stipulates that the Korean Financial Service Commission carries out VASPS inspections to ensure compliance with the regulations. The Bank of Korea will also add a surveillance level to ensure that data management is appropriate.

With these new standards and regulations, South Korea is an important step towards a regulated and transparent cryptocurrency market. The DAXA and its member exchanges play a crucial role in creating a trustworthy and safe environment for cryptocurrency transactions in South Korea.

Krypto News Österreich
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Südkoreas Digital Asset Exchange Association (DAXA) hat kürzlich neue ethische Standards bekannt gegeben, um die Informationsasymmetrie auf dem Kryptowährungsmarkt zu beseitigen. Die Allianz, bestehend aus großen Kryptowährungsbörsen wie Upbit, Bithumb und Coinone, hat diese Standards eingeführt, um verantwortungsvolle und ethische Praktiken in der Branche der virtuellen Vermögenswerte zu fördern. Die DAXA hat zwei Standards eingeführt: Die DAXA Internal Control Standards und den Code of Ethical Conduct for Virtual Asset Operators. Diese Standards sollen die Transparenz, den Verbraucherschutz und die allgemeine Integrität auf dem Markt verbessern. Einer der wichtigsten Punkte der Standards besagt, dass Kryptowährungsbörsen, die der DAXA angehören, einen externen …
South Korea's Digital Asset Exchange Association (DAXA) recently announced new ethical standards to eliminate the information asymmetry on the cryptocurrency market. The alliance, consisting of large cryptocurrency exchanges such as Upbit, Bithumb and Coinone, has introduced these standards to promote responsible and ethical practices in the industry of virtual assets. The DAXA has introduced two standards: the DAXA Internal Control Standards and the Code of Ethical Conduct for Virtual Asset Operators. These standards are intended to improve transparency, consumer protection and general integrity on the market. One of the most important points in the standards states that cryptocurrency exchanges that belong to the DAXA, an external ...

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