South Korea’s central bank quizzes top banks on crypto hack and crash exposure
AI summary
South Korea's central bank, the BOK, has surveyed the country's largest banks on how a major crypto hack, a crypto price crash, or losses at another firm would affect them. It is the first survey of its kind, and it also asked about each bank's crypto teams, budgets and investments. The move signals regulators are stress-testing traditional lenders' exposure to crypto risk, which could shape future rules on bank involvement in the sector.
