South Korea demands stronger crypto safeguards following Binance hack

South Korea's Financial Services Commission has ordered domestic crypto exchanges to keep more assets in cold wallets and bolster financial reserves after the $6.3 billion Binance hack on October 29. The directive, reported by ChosunBiz on November 2, tightens custody and capital rules for Korean trading venues. Traders should watch for compliance costs and possible liquidity shifts at Korean exchanges, plus continued fallout for Binance-linked assets.