South Korea Implements New Rules for Crypto Loans
On September 5, South Korea’s Financial Services Commission (FSC) released guidelines for lending services on centralised cryptocurrency exchanges.
The FSC stated that the document introduces investor protection measures based on global experience. The new rules prohibit leveraged lending that exceeds the value of the collateral. The interest rate is capped at 20% per annum.
Services cannot demand loan repayment in fiat currency. According to the regulator, this violates lending laws. Companies are required to…
