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Measures to Take When Exchange Registration is Cancelled

Last updated: 2024/06/26
3. Measures to be Taken

3.1. Establishment of a Working Group:

  • Upon the occurrence of any situation leading to the cancellation of exchange registration, the Chief Executive Officer (CEO) will establish a working group.
  • The working group will analyze the situation, identify the causes, and develop a corrective action plan.
  • 3.2. Risk Management and Business Continuity:

  • The Company has a Business Continuity Plan and an Emergency Action Plan to ensure stable and continuous business operations.
  • These plans outline actions to be taken in the event of operational suspension, service restriction, dissolution, service interruption, cyber-attack, or any aggressive actions.
  • 3.3. Suspension of Operations:

  • In case of an emergency, the Company's governing body will decide to suspend operations.
  • A plan for suspending and dissolving operations will be discussed and approved based on the situation.
  • 3.4. Dissolution and Liquidation:

    The dissolution and liquidation plan will include:

  • Ensuring users' and clients' assets are separated from the Company's assets and are not used for the Company's needs.
  • Protecting the security of users' and clients' information and ensuring the return of their assets.
  • Storing collected user and client information in compliance with legal requirements.
  • Allocating roles and responsibilities for the suspension and liquidation process.
  • Estimating and managing liquidation costs.
  • Scheduling debt repayments.
  • Reviewing and adjusting or terminating ongoing contracts.
  • Distributing and selling the Company's tangible and intangible assets.
  • Implementing other necessary regulations.
  • 3.5. Communication:

  • The Company's management will immediately inform employees, users, clients, contractors, and regulatory authorities about the suspension of operations.
  • Information about the suspension of operations will be transparently posted on the Company's platform.
  • 3.6. Post-Cancellation Actions

  • The working group will report all actions taken during the emergency situation to the relevant management.
  • The Company will ensure that pending transactions and trades on the trading platform are completed to the extent possible and will inform users of the platform's closure in advance.