South Korea FSC orders crypto exchanges to boost cold-wallet custody

Community Trust Score Verified 89 % Real Verified 9 votes Updated 57 seconds ago South Korea’s Financial Services Commission (FSC) requested domestic crypto exchanges to increase cold-wallet custody and strengthen operational safeguards following the Oct. 30 Binance hack. The regulator issued these directives at an emergency meeting held at 10 a.m. on Nov. 2, as confirmed by a Nov. 3 clarification. The Nov. 2 meeting brought together the FSC, the Financial Supervisory Service, the Financial Security Institute, a crypto industry association, and major virtual-asset businesses. The session focused on immediate protective measures for customer assets and operational security.

Source: The Currency Analytics