Upbit Lists Solare (SXP) as a Caution Trading Asset and Suspends Deposit Services

Upbit Implements Restrictions on Solare (SXP)

Recently, Upbit, a leading South Korean digital asset exchange, announced it has listed Solare (SXP) as a caution trading asset and suspended deposit services for the token. This decision was made under the coordination of the Digital Asset Exchange Alliance (DAXA).

Background and Reasoning

According to Upbit’s official statement, the move aims to ensure the safety of user assets and maintain a stable trading environment. DAXA member exchanges have collaboratively decided to implement a phased review process for certain digital assets to evaluate their compliance and long-term trading viability.

• Deposit functionality is now fully suspended
• Trading is still available, but with potential risks
• Upbit will conduct a thorough assessment of SXP

Possible Developments Ahead

Once labeled as a caution asset, Upbit typically performs an in-depth review over several weeks to determine whether to extend the cautionary status, lift restrictions, or ultimately delist the asset. The platform has advised users to closely monitor updates and be cautious of potential market volatility.