South Korea Halts New Crypto Lending, Guidelines in the Works

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South Korea’s top financial regulator ordered crypto exchanges to suspend new digital asset lending services, citing mounting risks and highlighting a need for clear rules. 

The Financial Services Commission (FSC) said on Tuesday that it sent letters to exchanges requesting the suspension of new crypto lending until it completes guidelines. Existing contracts, like repayments and maturity extensions, will be permitted. 

On July 31, the FSC and the Financial Supervisory Service (FSS) announced they had formed a joint task force to develop a…



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South Korea Halts New Crypto Lending, Guidelines in the Works



South Korea’s top financial regulator ordered crypto exchanges to suspend new digital asset lending services, citing mounting risks and highlighting a need for clear rules. 

The Financial Services Commission (FSC) said on Tuesday that it sent letters to exchanges requesting the suspension of new crypto lending until it completes guidelines. Existing contracts, like repayments and maturity extensions, will be permitted. 

On July 31, the FSC and the Financial Supervisory Service (FSS) announced they had formed a joint task force to develop a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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