BlockBeats news, on July 31, according to Decrypt, the South Korean Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) expressed concerns last Friday regarding the lending products offered by Upbit and Bithumb that allow up to 4x leverage for 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, undermining South Korea's ability to protect investors and shape its cryptocurrency market.
South Korea Warns About Cryptocurrency Lending and Margin Trading Services of Upbit and Bithumb
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