Because the starting of June, a complete of 37 altcoins have been delisted from 20 cryptocurrency exchanges in Korea which acquired the Info Safety Administration System (ISMS) certification.
Market watchers count on that the eviction of altcoins will proceed not solely at small and medium-sized exchanges but additionally at giant exchanges which have real-name financial institution accounts akin to Upbit, Bithumb and Coinone. Exchanges should have real-name financial institution accounts to dealer Korean won-based transactions beneath the revised Act on Reporting and Utilizing Specified Monetary Transaction Info, which is scheduled to turn into efficient in September. In evaluating exchanges, banks will give disadvantages to these with many altcoins.
Moreover, the Monetary Supervisory Service on June 14 requested exchanges to submit an inventory of cash which can be extremely dangerous or be delisted every day in the interim. Monetary authorities started to conduct due diligence on exchanges on the day. As a consequence, exchanges are beneath strain to delist altcoins.
Nonetheless, some analysts say that the eviction of such altcoins will proceed steadily as a result of the eviction of numerous cash without delay can have a big effect in the marketplace. In consequence, considerations are rising that buyers in such altcoins might endure large monetary losses.