South Korea requires cryptocurrency exchanges to standardize withdrawal delay times to combat voice phishing scams.

MeNews · 2026-04-08T13:00:17+00:00

The Korea Financial Services Commission and the Financial Supervisory Service have issued new regulations requiring all domestic cryptocurrency exchanges to adopt a unified withdrawal review standard to curb voice phishing scams, strengthen identity verification and fund monitoring, marking a shift from self-regulation to national standards in the risk control system.

MeNews

2026-04-08 13:00:17

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ME News message, April 8 (UTC+8), the Financial Services Commission of Korea and the Financial Supervisory Service jointly issued new regulations requiring all domestic cryptocurrency exchanges to use a unified withdrawal-delay review standard to curb voice phishing scams. The new regulations remove each exchange’s authority to set its own withdrawal exemption conditions and instead apply unified criteria based on account history, trading patterns, and behavioral changes. It is expected that fewer than 1% of users will be eligible for immediate withdrawals. Platforms must also simultaneously strengthen identity verification and monitor fund flows. Previously, scam groups exploited the different exemption rules across platforms to prompt victims to convert cash into cryptocurrency within minutes and complete withdrawals. This new regulation marks a shift in Korea’s cryptocurrency risk-control framework from industry self-regulation to national unified standards. (Source: ChainCatcher)

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