South Korean blockchain city announced a new 18-member steering committee for its digital exchange launch but didn’t include any of the five crypto exchanges it onboarded earlier this year.
The steering committee is a municipal advisory body tasked with providing advice on the establishment and operation of the digital asset exchange, as well as strengthening the system of external cooperation.
The possible elimination of global crypto exchanges from Busan city’s plan was visible in the wake of FTX’s meltdown. The city administration wason the inclusion of such private exchanges in their plans but was confident of moving ahead with their blockchain goals without the need for third-party assistance.
One of the committee members noted that the problems with the crypto exchanges such as “FTX and other major global exchanges seem to have influenced [the decision],” Another member said that the exchanges were never an integral part of the city’s plan and were only needed for offering initial liquidity.
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