Upbit Removes 5 Coins Including Maro from KRW Market

[Asia Economy Reporter Ji-hwan Park] Upbit, the largest cryptocurrency exchange in Korea by trading volume, has removed five types of coins from the KRW market and designated 25 coins as watchlist items.

On the 11th at 5:30 PM, Upbit announced on its website, "We are notifying the removal of KRW market pairs for MARO (Maro), PCI (Paycoin), OBSR (Observer), SOLVE (Solve.Care), and QTCON (QuizTok)." Upbit stated that the reason for removal is failure to meet internal criteria for maintaining KRW market pairs. The removal will take effect on the 18th at 12:00 PM.

Earlier, the Financial Services Commission announced a ban on virtual asset service providers from mediating or brokering the trading or exchange of virtual assets they have issued themselves.

Accordingly, Upbit must complete its registration related to the Act on Reporting and Using Specified Financial Transaction Information (Special Act on Financial Transactions, or "특금법") with the Financial Intelligence Unit (FIU) under the Financial Services Commission by September 25. This is interpreted as a preemptive removal of coins that may have potential conflicts of interest.

Additionally, Upbit designated 25 coins, including KMD (Komodo), ADX (AdEx), and LBC (LBRY Credits), as watchlist items.

This content was produced with the assistance of AI translation services.