South Korea’s Crypto Exchanges Gain Power to Freeze Transactions

Quick Summary:

Under a new amendment to South Korea’s Virtual Asset User Protection Act, crypto exchanges can now immediately suspend transactions for legitimate reasons.

South Korean regulators introduced this new provision to combat hacking, money laundering, and fraud.

This allows exchanges to act swiftly without notifying users beforehand, though they must do so afterward.

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Article Details

Author / Journalist: Nynu V Jamal

Category: Crypto

Markets: IndiaSouth KoreaUnited States

Topics: News Market News Market Cryptocurrency

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 08:23:14 (15 hours ago)

News Timezone: GMT +0:00

News Source URL: coinedition.com

Language: English

Article Length: 122 words

Reading Time: 1 minutes read

Sentences: 47 lines

Sentence Length: 3 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinedition

News ID: 23653903

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About Coinedition

Main Topics: Crypto

Official Website: coinedition.com

Update Frequency: 14 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Publisher ID: #124

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