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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.
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- Qadir AK
Qadir AK
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Aug 19, 2025 06:05 UTC
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South Korea Suspends Crypto Lending to Protect Borrowers
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