South Korea plans to strengthen asset matching mechanisms for cryptocurrency exchanges, following regulatory tightening triggered by Bithumb's operational error.

CoinFeed reported on April 6th that, according to YNA, South Korea's Financial Services Commission (FSC) has mandated that all local cryptocurrency exchanges establish stricter asset matching systems, requiring them to reconcile their internal ledgers with actual cryptocurrency holdings every five minutes. Currently, only two of South Korea's five major exchanges have implemented asset reconciliation at the 5-10 minute interval, while the other three still operate on a 24-hour cycle. Furthermore, the trading halt mechanism ("circuit breaker") has revealed certain flaws in the event of large-scale asset mismatches. Under the new requirements, each exchange must complete its system construction by the end of May, disclose asset matching status daily, and undergo monthly external audits by accounting firms. These regulations will be incorporated into the Virtual Asset Market Regulatory Act for legislative advancement.