South Korea’s Financial Services Commission is considering raising from 80% to about 99% the proportion of customer cryptocurrencies that local exchanges must keep in cold wallets. The move comes after the Binance hack, which caused estimated losses of $6.3 billion. The proposed threshold remains under discussion, and no official decision has been made. According to Financial Supervisory Service data cited by local media, Upbit held 99.17% of customer assets in cold wallets at the end of September, compared with 94.76% for Bithumb and 85% for Coinone.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
