The token of the Blockchain-based point integration platform "MiL.k" posted news on the 22nd that it would hold an event on its official communities, X (formerly Twitter) and Telegram. It came about two and a half months after it announced a joint event with 7-Eleven on May 4.
Domestic virtual asset exchanges designate tokens as investment warning items if community communication is absent for as little as one month to more than three months, and they delist them if they judge that community communication is not smooth. But critics say the procedures are opaque because there are no clear standards.
According to the virtual asset industry on the 23rd, MiL.k Coin said the previous day that it would hold an event with OK Cashbag. The MiL.k token issued by Milk Partners is a service reward token that supports integrating points or mileage from multiple corporations into one for exchange and cashing out.
Domestic virtual asset exchanges and the Digital Asset eXchange Alliance (DAXA) stipulate "maintaining continuous communication channels and disclosure obligations" as essential review items for investor protection. A lack of community communication is seen as an indicator that the project's developers have halted the business.
Exchanges must check the issuer's community. Communities include the issuer's official website, Telegram, Discord, and X. The community is a criterion for judging whether the issuer is operating the business normally. The MiL.k token is currently supported for transactions on Upbit, Bithumb, and Coinone.
There are no clear standards for deciding delisting based on the period without community activity. Generally, if there is no news in the community for several months, an exchange designates the token as an investment warning item, which proceeds at the exchange's discretion. After designating an investment warning item, the exchange requires an official explanation from the issuer and normalization of the community.
If the issuer does not respond during the grace period or the explanation is insufficient and it is judged that there is no intention to resume the community, delisting is ultimately decided. However, even if designated as an investment warning item, if the actual business operations have not stopped, the issuer can avoid delisting by communicating with the exchange.
An industry official said, "The virtual asset market has grown, but many parts are still unclear."