South Korea Imposes 5-Minute Audit Rule On Crypto Platforms
Bithumb has pushed its stock market listing past 2028, citing the need to overhaul its accounting systems and internal controls after a high-profile crypto payout error drew scrutiny from South Korean regulators. Regulator Steps In After Industry Audit The Financial Services Commission announced Monday that all crypto exchanges operating in the country must now reconcile…
Bithumb $43 Billion Bitcoin Blunder Triggers Political Backlash In South Korea
South Korean lawmakers are ramping up pressure on financial regulators after a system failure at Bithumb, the country’s largest cryptocurrency exchange, led to the accidental distribution of more than $43 billion worth of Bitcoin (BTC) earlier this month. The February 6 incident has triggered political scrutiny of both the exchange itself and the agencies responsible…