DAXA Introduces Self-Regulatory Guidelines for Virtual Asset Exchanges Ahead of User Protection Act

DAXA announced a self-regulatory proposal in preparation for the Act on the Protection of Users of Virtual Assets, effective July 19. The guidelines cover the screening and termination of virtual asset transactions, procedures, and information disclosure. Exchanges will review crypto assets over six months but expect no mass delistings due to prior measures. The screening includes the credibility of the issuer, user protection, technology, security, and legal compliance. Assets without specific issuers must meet alternative criteria Exchanges will create independent review bodies for transaction support and conduct quarterly reviews. Each exchange may set additional standards beyond DAXA’s guidelines.

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