The South Korea Financial Services Committee (FSC) has set new rules for coding lending.
FSC He said On Friday, this interest was now crowned with 20 % encrypted in South KoreaAnd benefit from lending is not allowed. Crypto lending is limited to the best 20 symbols through the market value or those listed in at least three exchanges.
The new rules are followed by reports in late July South Korea’s financial organizers had plans to issue guidelines Services to tighten control and protect investors. The move also followed the provision of lending services supported by local encryption.
FSC noted that the rules review resulted from a request from financial services, given the lack of lending regulations. Now, exchanges should also guarantee that borrowers for the first time have completed training and convenience tests on the Internet set by the local organizational organizational organization, the ExchandE Digital Asset (DAXA) alliance.
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More transparency and fair practices
In the event of coercive liquidation, users should be notified in advance, and the capital should be added to a position to avoid filtering. Finally, stock exchanges should use their own capital to provide lending services:
“Informed lending is prohibited through third -party cooperation or the use of external sources to prevent organizational evasion.”
“The new regulations are increasingly reflecting the position of South Korea towards encryption. Critical statements about the encrypted currencyNoting that “encryption has significant fluctuations in prices, and it lacks the cash function” and has no fundamental value. “
According to reports from late JulyThe audit level is expected to increase. At the time, the launch of the Central Bank in South Korea was reported by a virtual assets committee to monitor the encryption market.
However, Crypto gains popularity in South Korea at a rapid pace.
Related to: South Korea orders exchange to stop encryption lending services
South Korea youth bets on encryption
A recent report indicates that wealthy families and family offices throughout Asia increase the encrypted customers, with some Planning to allocate about 5 % of their portfolios To the class of assets. Data showed from the end of March South Korea encryption users exceeded 16 millionAfter an increase in their numbers after the election of the American president, the older President Donald Trump.
The number of users is equivalent to more than 30 % of the total population of South Korea. However, some indicate that this is the result of local youth who are financially desperate looking for easy money, rather than technology adopting.
In late June, Elie Elha Yun, the chief product employee at Quantum Machine Learning Anzaetek, suggested that “the motivation does not come from […] Iman in Web3 […] As in the West, “he said that the adoption of a South Korean encryption is a As a result of financial despair The younger generation was affected.
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