Kimchi Coin Extinction Due to Government Regulations... "One of 54 Coins Newly Listed on Upbit This Year"

News 1 reported that among the newly listed virtual assets on Upbit, South Korea's largest virtual asset exchange, in the second half of this year, only one coin, Story (IP), can be considered a "kimchi coin." According to industry sources, while Upbit only listed one kimchi coin this year, it accounts for seven of the ten coins it delisted this year. The proportion of Korean projects on South Korea's largest exchange, which holds a 70% market share, has significantly decreased. This is because domestic exchanges are adopting a "risk-averse" listing policy due to government regulations. The media outlet added that there are growing calls in the industry to address regulatory uncertainty to encourage domestic companies to resume new blockchain businesses.