INTEL: South Korea plans to let crypto exchanges freeze withdrawals on suspected hacks
Updates
• Exchanges must also run 24/7 monitoring and hold more assets in cold wallets
• FSC to issue no-action letters so exchanges can freeze withdrawals preemptively on suspected hacks
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Current rules only allow exchanges to restrict withdrawals after a hack is confirmed. The regulator also wants 24/7 monitoring and larger cold wallet holdings
Updates
• Exchanges must also run 24/7 monitoring and hold more assets in cold wallets
• FSC to issue no-action letters so exchanges can freeze withdrawals preemptively on suspected hacks
Twitter | News
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