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South Korea Warns Upbit and Bithumb Over Cryptocurrency Margin Trading and Lending Services
Summary: According to Decrypt, the South Korean Financial Services Commission (FSC) and Financial Supervisory Service (FSS) expressed concerns last Friday regarding Upbit and Bithumb's introduction of up to 4x leverage lending products that allow short selling through borrowed funds. Upbit has suspended its USDT lending service, while Bithumb adjusted its structure on Tuesday but retained the ...
According to Decrypt, the South Korean Financial Services Commission (FSC) and Financial Supervisory Service (FSS) expressed concerns last Friday regarding Upbit and Bithumb's introduction of up to 4x leverage lending products that allow short selling through borrowed funds. Upbit has suspended its USDT lending service, while Bithumb adjusted its structure on Tuesday but retained the controversial 4x leverage ratio. South Korean crypto experts warn that stricter regulations may push users towards offshore platforms with weaker compliance standards, weakening South Korea's ability to protect investors and shape its cryptocurrency market.
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Link: South Korea Warns Upbit and Bithumb Over Cryptocurrency Margin Trading and Lending Services [Copy]
