The South Korean Democratic Party criticizes the concentration of power in cryptocurrency exchanges, stating that the authority to list and delist coins could potentially lead to conflicts of interest

PANews reported on March 24 that the Democratic Party of South Korea criticized the excessive concentration of power in domestic cryptocurrency exchanges at the "Digital Asset Basic Law" forum, especially the potential for conflicts of interest arising from the exchange's power to list and delist coins. Legislators called for clear regulatory frameworks through legislation to protect investor rights.

Legislators pointed out that the concentration of power in exchanges and lack of transparency in industry structure are at the root of current problems, proposing to learn from Japan's model of establishing an association by law to manage coin listing processes. Another legislator emphasized that South Korea should strengthen supervision over exchanges while referencing legislative experiences from Europe and America regarding separation of customer assets, promoting market transparency and stability.