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South Korea Eyes Guidelines for Crypto Bourses After Terra Crash

  • Ruling party urging bourses to make self-regulatory guidelines
  • Crypto committee to meet with five major exchanges next week

South Korean policymakers are pushing the country’s cryptocurrency exchanges to come up with industry guidelines for listing and delisting digital tokens, in a bid to protect the public after the collapse of the TerraUSD stablecoin.

Yun Chang-hyun, a lawmaker who heads the ruling party’s virtual assets committee, has called a second meeting with bourses Upbit, Bithumb, Coinone, Korbit and Gopax for next week, he said in an interview. The aim is to agree on a draft of the non-binding guidelines, he said. The country would employ a self-regulatory system, like Japan does