[Featured Stock] Danal Rises 8.7% on Extension of Paycoin Watchlist Period

[Asia Economy Reporter Lee Jung-yoon] Danal's stock price rose nearly 9% following the news of the extension of Paycoin's designation as a cautionary item.

As of 1:11 PM on the 7th, Danal was trading at 5,990 KRW, up 8.71% from the previous trading day.

Cryptocurrency exchanges such as Upbit announced on their websites the previous day that "the designation period of Paycoin as a cautionary item has been extended by the Digital Asset Exchange Association (DAXA)."

They added, "We have reviewed the materials related to Paycoin's business response plan," and stated, "To verify the fulfillment of explanations and for further review, the designation period as a cautionary item has been extended." The extension period lasts until March 31.

Previously, DAXA, composed of Upbit, Bithumb, Coinone, Korbit, and Gopax, designated Paycoin as an investment cautionary item on the 6th of last month, immediately after the Financial Intelligence Unit (FIU) under the Financial Services Commission announced the rejection of Paycoin's change of virtual asset business operator registration.