[South Korea to Allow Crypto Exchanges to Suspend Deposits and Withdrawals When Suspected Hacks] According to Cointelegraph, South Korea's Financial Services Commission (FSC) plans to allow crypto exchanges to suspend deposits and withdrawals when suspected of being hacked, without waiting for confirmation of the intrusion. The FSC stated it will issue a no-objection letter, allowing exchanges to implement preventative suspensions under specific conditions. Current rules prohibit exchanges from blocking withdrawals without justifiable reasons, only explicitly allowing restrictions after a hacking incident is confirmed. The FSC also requires exchanges to conduct 24/7 monitoring and incident response, increase cold wallet holdings, and strengthen insurance coverage and reserves. Exchanges unable to conduct continuous monitoring can only process deposits and withdrawals during staffed hours and must notify users in advance.