South Korea requires cryptocurrency exchanges to verify assets every 5 minutes to strengthen internal controls

The Financial Services Commission (FSC) of South Korea announced that due to the recent Bithumb payment incident exposing internal control loopholes, domestic cryptocurrency exchanges are required to reconcile their ledgers with actual assets every 5 minutes, establish automated reconciliation systems, set standards for triggering trading suspensions due to significant differences, and strengthen high-risk process reviews and account management. The external audit frequency has been adjusted to monthly, and the disclosure scope has been expanded to include detailed asset balances. The relevant rules are expected to be revised and completed in April 2026.