Kimchi Coins Facing Delisting Even in Court, What Are the Chances of an Injunction Being Granted?
As the domestic virtual asset project SOMESING filed for an injunction against delisting on the 5th, the industry largely expects the request to be dismissed. This is because the courts have previously dismissed all delisting injunction applications. The judiciary has consistently recognized the authority and autonomy of virtual asset exchanges in deciding whether to continue supporting certain listings.
(omitted)
The court also emphasized exchange autonomy when dismissing the injunction request for Wemix’s delisting in December 2022. At the time, the court stated, "To effectively protect investors by maintaining the transparency and integrity of the virtual asset market," the exchange’s decision to continue or terminate trading support "should generally be respected unless there are special circumstances."
Considering previous decisions, it seems unlikely that SOMESING will avoid delisting.
Hyeonsu “Elliot” Jin, Attorney at Descent Law Firm, noted, "If there are no particularly different facts compared to previous cases, the same outcome is expected," and he assessed the likelihood of the injunction being granted as low.
