South Korea's Financial Services Commission (FSC) has introduced new regulations requiring domestic cryptocurrency exchanges to implement real-time ledger-to-asset reconciliation every five minutes. This move follows an emergency review prompted by internal control issues at Bithumb, revealing that three of the five major exchanges only reconcile accounts once daily, hindering prompt detection of discrepancies. The new rules mandate exchanges to establish automated reconciliation systems with a five-minute cycle and set criteria for automatic trade suspension in case of significant mismatches. High-risk processes, such as promotional payments, must undergo enhanced review, including third-party verification and multi-level approval. Additionally, high-risk accounts require separate management, and payments must use automated verification tools. External audits will now occur monthly, with expanded disclosure requirements. The FSC aims to finalize these rule revisions by April 2026. Meanwhile, Bithumb has delayed its IPO until after 2028 to focus on strengthening internal controls, and the equity swap between Naver Financial and Dunamu has been postponed until September.