On June 17, it was reported that South Korean financial authorities plan to re-evaluate the listing of about 600 cryptocurrencies traded on domestic exchanges. The rigorous review aims to ensure compliance with the new regulations of the Virtual Asset User Protection Act, which came into effect on July 19. Local media recently reported that the South Korean government has finalized a best practice plan to support virtual asset trading. The plan outlines strict new requirements for listing cryptocurrencies on domestic exchanges. The current system is for exchanges to conduct their own internal review, which will be supplemented by the establishment of a more rigorous review process by authorities.