Gate News message, April 7, the Korean Financial Services Commission (FSC) announced on Monday that, in response to internal control vulnerabilities exposed by a recent exchange payment incident, it has required all domestic crypto exchanges to reconcile their ledgers with actual assets every 5 minutes. An emergency review found that among the top five exchanges in the country, three reconcile only once per day, making it difficult to detect and resolve discrepancies in a timely manner; some systems cannot automatically halt trading when major mismatches occur. Under the new rules: 1) exchanges must set up an automated ledger-to-wallet reconciliation system with a 5-minute cycle; 2) establish standards that trigger an automatic trading pause when material differences occur; 3) for high-risk processes (such as promotional payments), strengthen reviews, including third-party rechecks and multi-level approvals; 4) high-risk accounts must be managed separately, and payments must use automated verification tools; 5) the frequency of external audits will change from quarterly to monthly, and the disclosure scope will expand to include detailed asset balances by wallet and ledger. The FSC said it will complete the relevant rule revisions in April 2026. Previously, the exchange announced that its IPO plan would be pushed to after 2028, so as to strengthen internal controls and accounting policies through 2027; at the same time, Naver Financial and Dunamu’s equity swap was also extended to be completed by the end of September.
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