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Crypto

South Korea financial regulators to check crypto exchange user assets every five minutes

South Korea\'s financial authorities will build an always-on system to monitor user assets at digital asset exchanges and sharply strengthen internal controls to financial-institution standards. The steps follow a recent mistaken payment incident at Bithumb and aim to fix structural problems and restore market trust. Regulators will require five-minute balance reconciliations, set automatic trade blocks for large discrepancies, shorten external audit checks to monthly from quarterly and expand disclosures.

Crypto

Korbit holds compliance training for employees

Korbit said on Thursday it held its \"2026 compliance training\" for employees across the company. The training was designed to strengthen the effectiveness of internal controls and spread a compliance management culture throughout the organisation. It focused on internal rules and requirements needed to establish a transparent order in the digital asset market, including compliance with the Digital Asset User Protection Act and DAXA self-regulatory rules.

Crypto

FSC holds first virtual asset committee meeting of 2026 to discuss Digital Asset Framework Act draft

South Korea\'s Financial Services Commission met on Tuesday for its first virtual asset committee meeting of 2026 at the Government Complex Seoul. The meeting reviewed the status and plans related to a mistaken virtual asset payment incident on Feb. 6 and discussed a government review draft of the Digital Asset Framework Act. Officials also considered strengthening exchange internal controls, IT and security standards, safeguards including no-fault liability, and standards for stablecoin issuance and ownership dispersion.