According to CoinDesk, the Korea Financial Services Commission and the Financial Supervisory Service announced new regulations requiring all domestic cryptocurrency exchanges to adopt a unified withdrawal delay system to combat voice phishing scams that exploit rapid fund transfers. The new rules officially revoke the previous discretionary authority of each crypto platform to set their own withdrawal exemption waiting periods. Under the new system, exchanges must strictly evaluate withdrawal exemption eligibility based on standardized criteria such as account history, transaction patterns, and sudden behavioral changes. Officials estimate that in the future, less than 1% of users will qualify for instant withdrawals. Additionally, all crypto platforms are required to further strengthen identity verification mechanisms and implement more rigorous monitoring of fund flows.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments