South Korea’s Financial Services Commission and Financial Supervisory Service required all domestic crypto exchanges to use a standardized withdrawal‑hold system to fight voice‑phishing scams. Exchanges may no longer grant ad hoc exceptions; consistent review criteria (account history, transaction patterns, sudden behavior changes) must be applied. Rules also tighten identity checks and fund‑flow monitoring and are expected to leave fewer than 1% of users eligible for instant withdrawals. The change shifts safeguards from individual exchanges to a national standard.

The order removes exchanges' discretion to grant ad hoc exceptions and mandates a uniform, stricter withdrawal‑hold system with defined review criteria, tighter identity checks and fund‑flow monitoring; regulators estimate fewer than 1% of users will retain instant withdrawals, which reduces withdrawal flexibility and could constrain short‑term flows.