SOUTH KOREA FLAGS UPBIT AND BITHUMB'S CRYPTO LENDING, MARGIN TRADING SERVICES
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✍️ South Korea's financial watchdogs have raised concerns over crypto lending and margin trading products launched by Upbit and Bithumb, citing legal uncertainty and investor risks.
👉 South Korea's financial watchdogs raised concerns over crypto lending and margin trading products 👉 Regulators plan to establish a joint task force with exchanges to draft voluntary self-regulation policies 👉 Upbit halted its Tether lending product due to regulatory concerns 👉 Bithumb modified its structure to keep its 4x leverage 👉 Regulators see stablecoin lending as 'consumer lending' and may classify it as regulated lending under Korean law 👉 Broader regulatory shifts in South Korea's crypto sector, including approval of spot crypto ETFs and exploration of deposit tokens on public blockchains
-- #BenKo #Ko #SouthKorea #technology
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