The cold wallet custody ratio requirement for exchanges is proposed to be raised to 99%, and South Korean financial authorities are discussing adjustments

industry sources say the South Korean Financial Services Commission (FSC) held an emergency security inspection meeting on November 2 with major cryptocurrency exchanges and custodians to discuss raising the cold wallet custody ratio for exchanges. It is currently considering raising the existing requirement of over 80% stipulated by the Virtual Asset User Protection Act to around 99%, a level maintained by some large exchanges. Upbit's cold wallet custody ratio for user assets exceeds 99%, Bithumb is about 94%, Coinone is 85%, and exchanges such as GOPAX are just over 80%.