Crypto Exchanges Face Banking-Level Oversight in South Korea

[nihalsari]

South Korea is raising the bar for crypto exchanges by aligning them more closely with traditional financial institutions. Exchanges will now be required to appoint dedicated risk management officers and establish formal risk committees, while compliance checks will increase in frequency.

Industry body DAXA is expected to finalize self-regulatory updates soon, with many of these requirements feeding into the country’s upcoming Digital Asset Act. The reforms signal a shift toward stricter oversight and institutional-grade standards, as regulators seek to rebuild trust in the wake of recent failures.

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this is basically pushing exchanges toward bank-like governance structures, which could improve long-term stability

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yeah nothing says innovation like more compliance meetings