The post South Korea Suspends Crypto Lending to Protect Borrowers appeared first on Coinpedia Fintech News
South Korea’s Financial Services Commission has ordered local crypto exchanges to halt all lending services until official guidelines are introduced. The move follows concerns that 13% of borrowers have been pushed into liquidation due to unclear regulations. Current contracts can be repaid or extended, but no new loans are allowed. Exchanges that fail to comply will face on-site inspections by the authorities.
