South Korea Mandates Uniform Crypto Withdrawal Delays
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
South Koreas financial regulators implement a uniform withdrawal delay system across all local crypto exchanges to combat voice phishing scams. This new rule, enforced by the Financial Services Commission and Financial Supervisory Service, aims to prevent users from swiftly transferring funds to scammers. The system will review exceptions based on account history and spending habits, with less than 1% of users potentially eligible for quick withdrawals. This marks a shift from industry-led safeguards to a national mandate, unlike the varying delays in the U.S. and Europe.
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