[South Korea Proposes Fines of Up to 10% of Stolen Amount for Hacked Crypto Exchanges] The South Korean Financial Services Commission (FSC) has drafted a new bill proposing fines of up to 10% of the stolen assets for cryptocurrency exchanges that fall victim to hacking incidents. The draft comes in the context of the $36 million hacking incident involving Upbit in November 2025. If the new regulation had been in effect at the time, the fine would have reached $3.6 million, far exceeding the current cap of $456,000. The FSC emphasized that exchanges must meet IT security standards equivalent to those of traditional financial institutions. Additionally, another proposal suggests fines of up to 3% of annual revenue, potentially reaching as high as $36 million. The direction of related regulatory legislation is still under discussion.
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More >Today 2026-01-09
18:23