South Korea Tightens Crypto Exchange Controls
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
South Koreas Financial Services Commission introduces stringent measures to bolster crypto exchange security, following a major payout blunder at Bithumb. Exchanges must now reconcile internal ledgers with actual asset holdings every five minutes, implement automated transaction halts, and enhance verification processes. Regulators also increase external audits and demand detailed disclosures. Bithumb delays IPO plans to focus on accounting and control improvements. These measures aim to fortify South Koreas crypto hubs by Aprils end.
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