Bank of Korea Urges Crypto Circuit Breakers After Bithumb Bitcoin Issuance Error

The Bank of Korea urged stronger protections for South Korea’s cryptocurrency market after Bithumb mistakenly issued 620,000 Bitcoin in a February operational error. According to Newsis, the central bank’s payments and settlement report released April 13 said the mistake involved rewards that were intended to be worth about 620,000 won but were entered as Bitcoin units. The Bank of Korea said the crypto industry needs a circuit breaker-like mechanism to address such errors and reduce potential market disruption.

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