South Korean Government to Conduct Comprehensive Inspection of Seized Cryptocurrency Management Following National Tax Service's 'Recovery Phrase' Mishap

Enhancing Security in Cryptocurrency Management

The South Korean government has announced plans to conduct an emergency inspection of the current status and management practices of cryptocurrencies held and managed by government and public institutions, in collaboration with related agencies.

Deputy Prime Minister for Economic Affairs, Koo Yoon-cheol, stated in a post on February 2nd that, together with the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), they will quickly formulate and implement measures to strengthen the security management of digital assets based on the findings of the inspection.

This emergency measure...