WeMade and WeMix applied for a temporary injunction to all exchanges that delisted
If not addressed by December 8th, the listing will be removed from the list.
WeMade, the issuer of the virtual currency ‘WEMIX’, filed an application for a temporary injunction with the court against Coinone and Korbit following Upbit and Bithumb to prevent the effect of the decision to end transaction support (delisting).
Wemade announced on the 30th that it submitted a request for a temporary injunction to the Seoul Central District Court on the 29th to stop the effect of the decision to terminate the transaction support for the virtual asset Wemix (WEMIX). Previously, on the 28th, WeMade filed an injunction against Upbit and Bithumb for the same content.
Previously, the digital asset exchange advisory body (DAXA, DAXA), to which these exchanges belong, announced on the 24th that Wemix transaction support would end on December 8th. Only when the application for a temporary injunction is cited before the transaction support end date, WeMade can legally fight whether the decision was justified without Wemix being delisted. If it is rejected or no results are produced in it, Wemix will be removed from the list of Upbit·Bithum·Coinone·Cobit as it is. In a media conference held on the 25th, WeMade said, “We aim to receive the results of the temporary injunction before the end of the transaction support.”
However, some experts believe that WeMade’s request for a temporary injunction is unlikely to be cited in court. “It is true that the delisting will hurt Wemix’s holders, but the court is likely to make a conservative decision (rejecting the request for an injunction) in terms of protecting potential investors,” said Lin, an attorney with law firm Koo Tae- eon.
Lawyer Jung Joon-mo of Da Vinci Law Company also predicted, “If Daksa pleads that he has provided enough opportunity to get an explanation, the possibility of citing a temporary injunction is low.” Attorney Jeong said, “It appears that we will be able to receive the results of the temporary injunction within two to three days from the date of the application at the earliest.” The temporary injunction is a temporary disposition taken by the court to prevent immediate danger to the parties before a final judgment, so the result comes out relatively quickly.
We decided to respond by filing an application for a temporary injunction against individual exchanges and filing a complaint with the Fair Trading Commission. A WeMade official said, “We are preparing to submit a complaint to the Fair Trade Commission quickly.” “We believe that there is clear collusion in the decision making process to terminate Wemix’s trading support by the four exchanges belonging to Daksa. ” He added, “We intend to take every step to normalize Wemix transactions.”
