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Data submitted by the Financial Supervisory Service to Rep. Park Sang-hyuk of the Democratic Party, a member of the National Assembly's National Policy Committee, identified Guardian Holdings and Coredax as coin-market exchanges without insurance as of August 14, despite the legal insurance requirement for virtual asset service providers being in force. Both had taken out policies covering KRW 500 million for one year from July 19, 2025 but did not re-enroll after expiry, leaving a coverage gap in the user-protection layer and exposing the operators to supervisory action. The market channel is counterparty and compliance risk at Korea's smaller coin-only venues, which can accelerate volume migration toward won-market majors; watch whether the FSS moves to formal sanctions or business restrictions, which would be the confirmation that this becomes a licensing issue rather than a paperwork lapse.
As a Policy signal, confirm the link to liquidity, rates, policy timing, and price reaction before drawing a trading conclusion.
Original Source: 토큰포스트
This page is market information analysis, not investment advice.
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