Public Hearing on the Amendment of Market Maker Rules for the Part of Penalties and Revocation Measures

Modified on Mon, 20 Jan at 11:00 AM

Principle

Due to the Securities and Exchange Commission's amendment of the provisions according to Clause 39/1 of the Securities and Exchange Commission's Notification No. Kor Thor. 19/2561 Re: Rules, Conditions and Procedures for Undertaking Digital Asset Businesses (and Amendments), Bitkub Online Co., Ltd. ("Company") deems it appropriate to disclose the proposed rules and procedures to customers before implementing the amendments of the Company’s Market Maker Rules to comply with the aforementioned regulations.

The Company hereby opens the public hearing on proposed amendments to Market Maker Rules, particularly regarding the penalties and revocation measures, with the following key points:

The Company shall revoke the market maker status or contracts when the following occurrences take place.

The market maker fails to comply with standards or explain their improper trading behaviors.
The market maker fails to comply with the agreement specified by the Company after the third warning.

Impact

Relevant Party

Positive Impact

Negative Impact

Digital Asset Business Provider (Company)

- The Company is to amend its rules to enhance clarity in case the market makers may fail to comply with the law and conditions specified by the Company.

- The Company, as a provider of digital asset exchange services, gains more reliability in market management on its digital asset exchange platform while improving transparency and operational efficiency.

Trader/User

- Users can be assured that the Company ensures its market makers comply with all applicable laws and regulations.

- Users can be assured that market makers are prohibited from placing buy or sell orders that exploit the Company’s users.

Enforcement guideline

The amendment of Digital Asset Trading Rules for the part of warning signs will become effective only after receiving approval from the Securities and Exchange Commission. The Company will provide timely announcements and relevant information to customers following this approval.