South Korea Just Changed When Exchanges Can Freeze Your Crypto
South Korea’s Financial Services Commission (FSC) will let crypto exchanges freeze deposits and withdrawals when a hack is only suspected, not confirmed. Korean traders gain faster theft protection but lose certainty over when coins can leave an exchange. The FSC also wants all 28 registered crypto businesses inside the Financial Security Institute (FSI), the sector’s The post South Korea Just Changed When Exchanges Can Freeze Your Crypto appeared first on BeInCrypto.
Key Takeaways
- South Korea’s Financial Services Commission (FSC) will let crypto exchanges freeze deposits and withdrawals when a hack is only suspected, not confirmed.
- Korean traders gain faster theft protection but lose certainty over when coins can leave an exchange.
- The FSC also wants all 28 registered crypto businesses inside the Financial Security Institute (FSI), the sector’s The post South Korea Just Changed When Exchanges Can Freeze Your Crypto appeared first on BeInCrypto.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Regulation
Kraken parent Payward says expansion outside crypto trading helps cushion revenue decline
While earnings and the company’s newly introduced financial performance measure remained below year-earlier levels, there are signs of improvement from the second quarter.
Crypto Laundering a 'Material Risk' for UK Ahead of FATF Review: RUSI
Assessors visit in June 2027, months before full crypto rules take effect, leaving the UK to prove it can enforce against crypto laundering.
Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.