South Korean crypto exchanges are being urged by regulators to increase the share of customer cryptocurrency held in cold storage following recent security concerns highlighted by the Binance hack. Currently, exchanges in South Korea are mandated to keep at least 80% of customer assets in cold wallets, according to CoinTelegraph.
Despite this existing requirement, authorities are calling for even stricter measures to protect users’ funds from potential breaches. The move reflects growing regulatory scrutiny across Asia’s crypto markets in the wake of high-profile security incidents.
For Japanese investors and market participants, this development underscores the increasing emphasis on asset security within the regional crypto industry, potentially influencing regulatory approaches and exchange practices in Japan.