Coinone, a virtual asset exchange, had recently designated MovieBloc and Treecle as investment warning items due to an error in disclosing the circulation quantity. Not long after, they were released for they have consigned the remaining quantity. However, industry insiders voiced that doing so does not provide a fundamental solution to the circulation error. Partner attorney Ohoon Kwon commented, “If this happened in the securities market, it would be punishable for a violation of the Financial Investment Services and Capital Markets Act.” He continued, “Although there are no relevant laws in the virtual asset market at the moment, exchanges must deal with projects that have consistently caused problems.” [DigitalToday 08.02.22]

URL: Consignment of Virtual Assets Does Not Solve the Circulation Error