[South Korea's Financial Services Commission Requires Exchanges to Verify Assets Every 5 Minutes and Strengthen Audits] The South Korean Financial Services Commission (FSC) has announced that domestic cryptocurrency exchanges must establish a system to match internal ledgers with actual asset holdings every 5 minutes and complete deployment by the end of May. Currently, three of the five major exchanges still verify assets on a 24-hour cycle, while the other two conduct verifications every 5 to 10 minutes. The FSC requires exchanges to publicly disclose asset matching balances daily, undergo external audits monthly, and incorporate these regulations into the comprehensive legislative proposal for the virtual asset market. This tightening of regulations stems from the February incident involving Bithumb, where 620,000 Bitcoin were mistakenly issued, exposing internal control vulnerabilities.