The Digital Asset Exchange Alliance of Korea (DAXA) has implemented new compliance standards to curb the misuse of API keys among cryptocurrency exchanges. These measures require exchanges to deactivate API keys suspected of improper sharing, aiming to prevent market manipulation and other illicit activities. DAXA member exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, will enhance monitoring and issue user warnings, followed by mandatory re-authentication for suspicious cases. Additionally, IP whitelisting will be introduced to limit API access to approved addresses only. The Financial Services Commission of Korea noted that automated trading constitutes about 30% of the country's cryptocurrency trading volume.
South Korea's DAXA Enforces Stricter API Controls to Prevent Abuse
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