South Korean FSC mulls raising crypto exchange cold wallet ratio to 100%

South Korea’s Financial Services Commission (FSC) announced it is considering raising the mandatory cold wallet storage ratio for virtual asset exchanges from the current 80% to nearly 100%. According to a News1 report, the FSC disclosed its position in a written response submitted to the National Assembly on Feb. 19. The statement was in reply to an inquiry from Democratic Party lawmaker Kim Hyun-jung. The commission said it would review the potential increase while drafting subordinate regulations for the second phase of the country's virtual asset legislation, taking into account exchange operations, international regulatory trends, and inspection results from the Financial Supervisory Service.