South Korea urges exchanges to boost crypto cold storage
In short
South Korean crypto exchanges already have to keep at least 80% of customer crypto in cold wallets. The regulator is now asking them to hold even more after the Binance hack.
This could make exchanges safer for customers, but the report does not say how much more is required or when any new rule would start.
What the reporting says
South Korean crypto exchanges were already required to keep at least 80% of customer crypto in cold wallets, and the regulator is now urging more after the Binance hack. The publisher-supplied summary does not say what additional standard is being considered or whether the rule will change immediately. The likely effect would be tighter security expectations for exchanges serving Korean customers.
Why it matters
South Korea’s regulator is pressing crypto exchanges to increase cold storage beyond an existing rule that at least 80% of customer crypto must be kept in cold wallets. The push comes after the Binance hack, according to the publisher-supplied summary. The reporting does not say whether a new mandate is already in force or what threshold, if any, will replace the current standard.