Urgent Warning: Quiztok (QTCON) Designated as Closely Monitored Asset by Upbit and Bithumb

Key Points

1. Upbit and Bithumb, two of South Korea's largest cryptocurrency exchanges, have designated Quiztok (QTCON) as a 'closely monitored asset' under DAXA's oversight.

2. DAXA is a consultative group of top South Korean exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, aimed at ensuring a unified regulatory approach.

3. The designation implies heightened review of QTCON due to potential compliance or operational concerns, though specific reasons are not disclosed.

4. QTCON holders are advised to consider their options, including holding, selling, or diversifying their investments, given the increased scrutiny.

5. This move reflects South Korea's broader trend toward stricter cryptocurrency regulations, emphasizing compliance and investor protection.