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South Korean Lawmaker: Top Crypto Exchanges ‘Neglect Responsibilities’
January 7, 2024
By Tim Alper | @tim-alper
A South Korean lawmaker has claimed that the nation’s leading crypto exchanges are “neglecting their responsibilities to protect investors.”
According to a report from Daehan Geumyoong Shinmun, the comments came from Min Byeong-deok.
Min is a member of the National Assembly’s Political Affairs Committee.
The MP, a member of the main opposition Democratic Party, took aim at the five exchanges that make up the Digital Asset Exchange Association (DAXA).
DAXA is a self-regulating body that makes decisions on a range of matters, including token listing and desisting policies. Min said:
“DAXA exchanges are neglecting their responsibility to protect investors. And they are [making use of] unprincipled measures in their approach to cryptocurrency.”
DAXA’s reputation has taken a series of blows in recent months, due mainly to apparent divisions between exchanges’ policies.
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