In a report published on November 12, 2026, at 14:05 China Standard Time, PANews, citing Cointelegraph, said South Korea’s Financial Services Commission (FSC) planned to let crypto exchanges suspend deposits and withdrawals when they suspect a hack, without waiting for the intrusion to be confirmed.
The FSC said it would issue a no-objection letter permitting precautionary suspensions under specified conditions. That is a proposed change, not a suspension power described as already in effect. Under the rules described in the report, exchanges cannot block withdrawals without a legitimate reason; restrictions are explicitly permitted after a hack has been confirmed.
The FSC also called for round-the-clock monitoring and incident response, larger cold-wallet holdings, and stronger insurance coverage and reserves. Exchanges unable to monitor continuously would be limited to processing deposits and withdrawals while staff are on duty and would have to notify users in advance.
The proposed pause would give an exchange control over customer access during a suspected incident. The report does not specify the conditions for lifting a pause or what the requested reserves would cover.