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CoinDesk
South Korea FSC lets exchanges freeze funds before hack confirmed

South Korea's Financial Services Commission (FSC) will allow crypto exchanges to freeze deposits and withdrawals at the first sign of a hack, before a breach is confirmed. The regulator is issuing a no-action letter to shield exchanges from regulatory sanctions for acting early on suspected intrusions. The policy gives South Korean platforms legal cover to halt trading preemptively, responding to a wave of cyberattacks on the country's financial and crypto firms. No details were disclosed on the letter's scope or which exchanges are covered.



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