- Crypto exchanges in South Korea have introduced the delisting of WEMIX.
- Wemade made accusations of disseminating incorrect data by WEMIX.
- President Yoon Suk-Yeol could carry the bans for play-to-earn blockchain video games.
Crypto exchanges in South Korea have introduced the delisting of WEMIX, the native token of blockchain platform Wemix owned by gaming firm Wemade, claiming the corporate offered “false data” concerning the issuing of an funding warning.
On November 24, 2022, members of the Digital Asset eXchange Alliance (DAXA), together with Bithumb, Upbeat, Coinone, Korbit, and Gopax, introduced plans to finish contract assist for WEMIX.
On October 27, 2022, WEMIX was accused of issuing extra tokens than it reported in DAXA’s funding advisory, and WEMIX had promised to cooperate with DAXA to alleviate the issues.
The delisting of WEMIX comes after a tumultuous month for the token. On October 27, Wemade issued an funding advisory warning its customers concerning the potential for losses in crypto investments and claimed that it was not the issuer of WEMIX.
Nonetheless, on November 24, Wemade introduced that it had delisted WEMIX from its platforms.
The affiliation additionally made accusations of disseminating incorrect data and complicated traders by revealing unverified particulars relating to the itemizing standing of WEMIX.
WEMIX was down almost 70% to $0.488 on the time of writing, and its 24-hour buying and selling quantity was barely over $540 million. WEMIX’s transaction help will finish on December 8 with a purpose to defend traders, in line with DAXA.
South Korea has outlawed play-to-earn blockchain video games regardless of being one of many world’s largest gaming markets and early adopters of blockchain know-how.
Moreover, Wemade additionally revealed plans to launch a brand-new platform for the financial system that mixes NFTs and DAOs.
President of South Korea Yoon Suk-Yeol, who helps crypto, has advised that the ban could also be lifted and goals to broaden the digital property market by altering “rules which might be removed from actuality and unreasonable.”