According to Yonhap News Agency, the South Korean Financial Services Commission (FSC) has requested local crypto exchanges to establish a system by the end of May that checks internal ledgers against actual crypto asset holdings every 5 minutes. Exchanges are also required to disclose asset matching balances daily and undergo external audits by accounting firms monthly. This move is seen as a tightening of regulations following the incident in February this year where Bithumb mistakenly distributed 620,000 BTC to users.