South Korean financial regulators plan to regulate token lending services on crypto exchanges

PANews reported on July 22 that according to Edaily, South Korea's financial regulators plan to introduce regulatory standards equivalent to stock markets token lending services provided by the country's crypto exchanges. Currently, Bithumb provides token lending services up to 400% of the collateral value, while Upbit provides Bitcoin lending services up to 80% of the collateral. The financial authorities believe that such services are essentially equivalent to short selling transactions, and are considering introducing corresponding regulatory measures in the second phase of the virtual asset legislation process.
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