Is the 'illegal listing' time bomb at cryptocurrency exchanges about to explode?
Following Coinone, it has been confirmed that employees of the domestic cryptocurrency exchange Bithumb are also under investigation by prosecutors for allegedly listing cryptocurrencies in exchange for bribes. Experts point out that in order to break the unfair listing practices in the cryptocurrency industry for monetary gain, institutional reforms and stricter penalties must be implemented.
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Pureun “Ian” Hong, managing partner of Decent Law Firm, specializing in virtual assets, stated, "If an exchange lists coins not based on its own criteria but rather through illegal payments received by employees in charge of listings, charges such as breach of trust could apply. However, since the current punishment is lenient, if the Digital Asset Basic Act, which is currently being discussed in the National Assembly, is passed, stronger regulations will likely be necessary to address such issues."
