According to the Chosun Ilbo, South Korea’s revised listing rules will take effect on July 1, raising the listing thresholds. Affected by the decline in Bitcoin prices and capital outflows from the KOSDAQ market, South Korean KOSDAQ-listed crypto asset companies face delisting risks. BitMEX fell 6.3% to 1,228 won, with its market capitalization below the minimum standard for the second half of the year. Parataxis Ethereum (KRW 26.8 billion) and Bit Planet (KRW 33.1 billion) failed to meet the elevated market capitalization threshold effective next January. Parataxis Korea has been suspended from trading since April due to capital impairment and is under review for listing eligibility. The weakness in virtual asset prices is the direct cause of the delisting crisis.
South Korea's Revised Listing Rules to Take Effect in July, Crypto Firms Face Delisting Risks
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Summary
South Korea’s revised KOSDAQ listing rules will take effect in July, raising market capitalization thresholds and putting crypto firms at risk of delisting. Bitcoin’s price decline and weak altcoins have severely impacted the crypto market. BitMEX fell 6.3% to 1,228 won, with its market cap now below the minimum requirement. Parataxis Ethereum and Bit Planet also failed to meet the new criteria. Parataxis Korea remains suspended pending a listing review. Declining virtual asset prices are the primary cause of the delisting crisis.
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