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South Korea urges crypto exchanges to expand cold storage after Binance hack
South Korea's regulator has called on local crypto exchanges to increase the share of client assets held in cold wallets, even though the current minimum is already 80%. The move follows a hack of Binance.
HighRisk Media Newsroom, , 1 min read · Читать по-русски
South Korean regulators have urged domestic crypto exchanges to increase the volume of client assets held in cold wallets following the Binance hack, according to Cointelegraph. The outlet reports that current rules already require exchanges to keep at least 80% of customers' cryptocurrency in cold storage, but the regulator is asking for more.
The full text of the article was not available to the editorial team, so this report does not include details of the Binance hack, the size of losses or the specific parameters of the proposed approach. Based on available information, this is a call from the regulator rather than a new threshold set in regulation.
Sources
Prepared by AI from the sources above and checked against them. Spotted a mistake? Write to @highrisk_team.
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South KoreaCrypto exchangesCold storageCustodyBinanceRegulation