South Korea Plans to Strengthen Cybersecurity Regulation for Financial and Cryptocurrency Institutions

According to Cointelegraph, South Korea's Financial Services Commission (FSC) plans to implement stricter cybersecurity requirements for financial institutions and cryptocurrency exchanges. A prior industry review revealed that out of 555 financial institutions, 130 had cybersecurity vulnerabilities, resulting in the exposure of approximately 100,000 customer personal information records. The affected institutions include Streami, the operator of Gopax, and crypto exchange Prabang, which disclosed that it was hacked on October 2, leading to a customer data breach.