South Korea takes away exchange discretion in a major anti-phishing crackdown

South Korea takes away exchange discretion in a major anti-phishing crackdown.

• South Korea’s financial regulators have ordered all domestic crypto exchanges to adopt a single, strict system for delaying withdrawals, aiming to block a surge in voice phishing scams that rely on speed
• The Financial Services Commission and Financial Supervisory Service announced the new rules, removing the discretion exchanges once had to let users bypass holding periods,local newsoutlets report
• In the past, platforms set their own exceptions to keep trading fast