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

The Financial Services Commission and Financial Supervisory Service of South Korea have ordered all domestic crypto exchanges to implement standardized withdrawal delay rules. This initiative removes the discretion previously held by individual platforms to bypass holding periods, which scammers had exploited to move stolen funds rapidly. Under the new national mandate, exchanges must assess withdrawals based on account history and behavior, with fewer than 1% of users expected to qualify for instant transactions. This shift aims to interrupt voice phishing scams by providing a necessary window for victims to reconsider and for authorities to detect suspicious activity.

(Source：CoinDesk)