South Korea’s No-Fault Compensation Model: What It Means for Crypto Trading
South Korea is about to roll out a no-fault compensation model for crypto exchanges. Sounds like a big deal, right? The idea is to protect consumers, but it raises some interesting questions about how it might change the way people act with their assets. Will users get more reckless, thinking they’re covered no matter what? Let’s dive into what this all means.
What’s the Deal with the New Rules?
The Financial Services Commission (FSC) is about to put these bank-level, no-fault liability rules into action. This means crypto exchanges will have to play by the same rules as traditional banks. This follows a massive breach at Upbit where over 104 billion Solana-based tokens were moved to external wallets in mere hours. Under these new…
