The steering committee for South Korea’s Busan city’s flagship digital asset exchange was announced on Monday, but it did not include the majority of the global exchanges that had previously partnered with Busan for the initiative. There are 18 local blockchain experts on the steering committee, but no representatives from Binance, Crypto.com, Gate.io, or three of the five exchanges that agreed earlier this year to help Busan establish its first official digital asset exchange. Local media outlets speculated that global exchanges had withdrawn. Huobi Global, one of the original five supporting exchanges, was represented on the committee by its Huobi Korea subsidiary. According to one member, Binance and the other absent exchanges will not be a part of the development of Busan’s crypto exchange.