Upbit and Bithumb have placed Ravencoin (RVN) on a delisting watchlist, putting the token under formal review at two of South Korea's largest cryptocurrency exchanges and raising the risk of reduced trading support or a full removal if it fails to meet listing standards. The move comes as South Korean exchanges face increasing pressure to apply clearer listing and delisting criteria, including under the Virtual Asset User Protection Act in 2024, as part of broader efforts to protect investors and strengthen market integrity. The reasons for Ravencoin's designation were not fully disclosed, but delisting watchlists are typically used when exchanges identify concerns such as trading activity, development progress, compliance, or other listing-standard issues. The watchlist decision has added uncertainty for RVN holders because a delisting from major Korean venues could weaken liquidity and access to the token, while also underscoring the influence large exchanges have over smaller-cap crypto assets.