Bank of Korea probes financial firms’ exposure to crypto risks

The central bank is surveying 31 financial institutions on how a major exchange shutdown, prolonged crypto downturn or losses at another firm could affect their operations. The Bank of Korea has reportedly launched its first survey of banks and brokerages on cryptocurrency-related risks, asking how they would be affected by a major exchange hack, a market crash or heavy losses at another financial institution. The central bank began surveying 18 banks and 13 brokerages on Oct.