South Korea’s Financial Services Commission announced at a Financial Security Institute meeting on November 5 that it will issue guidelines this month: when virtual asset service providers discover a security incident, they must not only report it to the Korea Internet & Security Agency, but also immediately notify the Financial Supervisory Service and the Financial Security Institute.
Banks have long been required to report cyberattacks to financial regulators, but the financial reporting channel for exchanges was missing. From September 30 to November 3, the financial sector reported 40 intrusion incidents, including three involving virtual asset firms, with approximately 1 billion won stolen.
What concerns me more is the timing. The guidelines will only be finalized this month, while the Digital Financial Security Act, which will have real teeth, is not expected until the first quarter of 2027. If your assets are held on a Korean exchange, regulators will find out sooner—but don’t wait for the law to take effect before splitting your holdings between hot and cold storage.
#韩国拟设加密安全事件即报规则 $BTC $USDT
Banks have long been required to report cyberattacks to financial regulators, but the financial reporting channel for exchanges was missing. From September 30 to November 3, the financial sector reported 40 intrusion incidents, including three involving virtual asset firms, with approximately 1 billion won stolen.
What concerns me more is the timing. The guidelines will only be finalized this month, while the Digital Financial Security Act, which will have real teeth, is not expected until the first quarter of 2027. If your assets are held on a Korean exchange, regulators will find out sooner—but don’t wait for the law to take effect before splitting your holdings between hot and cold storage.
#韩国拟设加密安全事件即报规则 $BTC $USDT