South Korea’s FSC Reviews Exchange Security and 80% Cold-Wallet Rule
Photo: TokenPost
South Korea’s Financial Services Commission (FSC) convened crypto exchange representatives Sunday evening ET, Nov. 1 (Monday, Nov. 2, in South Korea), for an urgent review of preparations for large-scale hacks and protections for customer assets after a recent large-scale asset theft at Binance. The FSC is South Korea’s financial regulator, and the meeting drew representatives from Upbit, Bithumb and Coinone. The review also covered ways to increase the share of customer assets kept in cold wallets, which are stored offline.
Source: TokenPost
