# Sui, DAXA, urged act and innovate responsibly

[Blockmedia] Blockmedia supports responsible innovation in the blockchain and artificial intelligence industries.

Blockchain and artificial intelligence are innovative financial technologies that can disrupt existing industries and products. However, innovation must be accompanied by responsibility.

During a recent National Assembly audit, Rep. Min Byeong-deok coined the term “Burger Coin” to describe structural problems in the Korean cryptocurrency market. Sui coin is a representative example of a Burger Coin.

The controversy over Sui’s distribution volume arose immediately after its listing in May 2023. Blockmedia has covered this issue extensively. I was disappointed when Rep. Min criticized the Financial Supervisory Service’s Office for failing to address the Burger Coin issue.

Blockmedia repeatedly asked the Sui Foundation to confirm the facts, but the foundation remained silent. Kim Gap, head of marketing and communications at the Sui Foundation, even said the on-chain data was fake.

The Sui Foundation only acknowledged the on-chain data after it became a problem during the national inspection. Gape Kim’s lies now bury the foundation’s belated explanation. Someone must be held accountable for this loss of trust.

There was controversy over whether to call the Digital Asset eXchange Alliance (DAXA) as a witness in the National Assembly inspection. DAXA’s testimony was necessary to address the Burger Coin issue through policy.

Lee Bok-hyun, head of the Financial Supervisory Service, responded to Rep. Min Byeong-deok’s question by saying, “DAXA said there were various issues, but in conclusion, it is an issue where there may be victims.”

If DAXA fails to solve the problem of Burger Coins, such as Sui, to protect investors, the Financial Supervisory Service will have no choice but to take action directly.

Is DAXA capable of solving the problem? DAXA showed its power when it delisted WeMade WeMix. If DAXA is willing to use its power for Kimchi Coin but not for Burger Coin, then perhaps DAXA should also be held accountable for Burger Coins.

With great power comes great responsibility. If you can’t use your strength well, just let it go.

Blockmedia readers can simply use our articles.

You can remember the article containing the following sentence: “If Blockmedia responds to the issue, it will be fact-checked and reflected in the article.”

This sentence refers to the reporting process for responsible innovation. It means that Blockmedia has asked a question about a problematic issue and is waiting for an answer. However, if the answer does not come in time or is not reasonable or factual, then Blockmedia will judge and criticize.

In short, Blockmedia is not a recorder. We ask questions, make sure the answers are reasonable and factual, make judgments, and criticize.

I’ll say it again: Blockmedia supports responsible innovation. We support all readers who want such innovation.

By James Jung jms@blockmedia.cokr

Blockmedia US Edition