South Korea Is About to Change Crypto Exchange Rules Forever

[chainsniff]

South Korea is preparing to impose bank-level, no-fault liability on crypto exchanges — meaning platforms may soon be required to compensate users for losses from hacks or system failures even when it’s not the exchange’s fault.

This standard currently applies only to banks and e-payment companies.
Crypto exchanges would now be treated the same.

The move follows the Upbit incident where 104B Solana-based tokens (≈44.5B KRW / $30.1M) were drained in under an hour.

The message from regulators is clear:
If you want to handle customers’ assets, you must meet the same protections as a bank.

[Nahid Hossen]

Major rule changes incoming—exchanges must adapt fast.