Regulation1 source
South Korea orders massive crypto wallet lockdown following the Binance hack
Headline from CryptoSlate
Key points
- South Korea's Financial Services Commission has ordered a massive lockdown of cryptocurrency wallets following a recent Binance security breach.
- The regulator requested that exchanges implement stronger transfer monitoring systems, increase their emergency response staffing, and expand cash reserves.
- Details regarding how exchanges will execute these measures and potential new custody thresholds currently remain unspecified.
Summarized automatically by Kryptokite from reporting by CryptoSlate. Read the original sources for full detail.
Coins mentioned
Sources
- CryptoSlateSouth Korea orders massive crypto wallet lockdown following the Binance hack · 2 hours agoRead on CryptoSlate
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