Five South Korean crypto exchanges increase liability to users

Bithumb and four other South Korean cryptocurrency exchanges have changed their liability documentation, under pressure from the Fair Trade Commission (FTC), the Korea Herald reported. In April last year, the FTC issued a list of recommendations for the major South Korean exchanges, which requested them to include more liability clauses in their terms and conditions. Following these recommendations, the five exchanges will now be liable for any customer losses caused by fraudulent events. The critical distinction here is that the platforms will be liable for customer losses, even if they were not knowingly involved in fraudulent actions. Before the FTC