As stated in the Securities and Exchange Commission's Notification No. Kor Thor. 19/2561 Re: Rules, Conditions and Procedures for Conducting Digital Asset Business ("Notification No. Kor Thor. 19/2561"), it requires digital asset exchange operators to establish criteria for the appointment of Market Maker ("Market Maker Rule").
Bitkub Online Co., Ltd. ("Company") hereby informs you of the Company's Market Maker Rule, which outlines the criteria for selecting a Market Maker, as follows:
Market Maker Qualifications
A Market Maker must meet at least the following qualifications:
Have knowledge, skills, and experience related to digital assets as defined by the Company.
Approval is required to open a digital asset trading account with the Company.
Scope of Responsibilities
A Market Maker's responsibilities include the following:
Submit buy and sell orders to maintain liquidity in the company's digital asset trading platform in accordance with the market mechanisms and the law.
Perform duties in compliance with the law and refrain from any actions that are prohibited by law, including but not limited to actions that may be considered unfair trading in digital assets or exploiting other investors.
Perform duties without conflicts of interest.
Supervision Guidelines
The Company supervises the Market Maker throughout the duration of their role, monitoring their performance at appropriate intervals.
The Company establishes penalties for Market Makers and conditions under which their Market Maker status may be revoked.
Market Maker Penalty Measures and Revocation of Market Maker Status
In the event of non-compliance with the terms and conditions set by the Company, the Company will consider imposing penalties and/or revoking the Market Maker's rights and status.
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