The listing circle is narrowing for South Korea’s largest cryptocurrency exchange Upbit, whose listings usually bring huge price increases for the respective altcoins.
According to DeSpread, Upbit, the largest exchange in South Korea, achieved a rare feat by listing a memecoin for two consecutive days.
According to the country's regulations, there are only three memecoins that Upbit can list.
According to the latest Korean regulations, new memecoins must be traded for two years before they can be listed, so the only memecoins that Upbit could list in the coming days are Pepecoin (PEPE), Bonk (BONK), and Brett (BRETT).
According to new regulations in South Korea, exchanges must meet certain criteria before listing a new memecoin. One of these criteria is that it has been in business for at least two years.
At this point, it is stated that the regulations that stock exchanges must comply with are introduced to protect investors from fraudulent events and sudden movements in prices.
*This is not investment advice.