South Korean trading platforms tighten technical exception listing rules; transitioning to “crypto asset reserves” may trigger a delisting review.

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ME News, July 2 (UTC+8), the Korea Exchange (KRX) has revised the listing rules for KOSDAQ, stipulating that technology special listing companies that change their main business to unrelated businesses such as Crypto Treasury within five years of listing will be subject to substantive delisting review. The KRX stated that this measure aims to block the "backdoor" pathway of companies transforming into crypto asset businesses after being listed under technology special listing. Citing the case of a biotech special listing company that transformed into a digital asset investment company last year, the exchange said that the technological capabilities and growth potential on which the company's listing was based are no longer valid, making it necessary to conduct a substantive review. In addition, the KRX also requires technology special listing companies that enjoy a grace period from delisting indicators to disclose their corporate value enhancement plans, and simultaneously improve related systems such as innovation enterprise listing review, low price-to-book ratio (PBR) enterprise disclosure, and multiple voting rights shares. (Source: BlockBeats)
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