Upbit, Bithumb Delist Three Tokens Amid Regulatory Scrutiny

South Korea's two largest cryptocurrency exchanges, Upbit and Bithumb, have announced they will delist three digital assets, Storj (STORJ), ThunderCore (TT), and JasmyCoin (JASMY), on September 14. This decision follows unresolved trading warning designations that were previously placed on these tokens.

The exchanges initially placed STORJ, TT, and JASMY under trading warning status due to concerns over project transparency, developer activity, or compliance with local regulations. Under South Korean rules, exchanges must periodically review listed assets and can delist tokens if issues are not resolved within a specified period.

Coinone, another major South Korean platform, has also extended its delisting watchlist designation for STORJ, suggesting that the token's troubles may not be limited to just two venues. The announcement indicates that the underlying concerns were not addressed to the satisfaction of the exchanges' review committees.