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South Korea Updates Rules on When Exchanges Can Freeze User Crypto
(4 hours ago) · 1 source · Summarized by CryptoBipto
South Korea has introduced new regulations that change the conditions under which cryptocurrency exchanges can freeze user assets. The updated rules define specific circumstances that permit or require exchanges to restrict access to customer funds.
WHY IT MATTERS
When you keep cryptocurrency on an exchange, the exchange holds your assets on your behalf, similar to how a bank holds your money.
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SOURCES
- beincrypto.com
RELATED
South Korea RegulationExchange ComplianceUser ProtectionAsset Freezing