06:30
South Korea will limit the interest rate cap on cryptocurrency lending to 20% and prohibit leveraged lending.
According to ChainCatcher news reported by TheBlock, South Korean financial regulators have issued new guidelines for lending services at local crypto asset exchanges to enhance investor protection. Under the new regulations, the upper limit for crypto asset lending interest rates is set at 20%, and leveraged lending beyond the value of the collateral is explicitly prohibited. Furthermore, the guidelines state that only the top 20 crypto assets by market capitalization or crypto assets traded on three or more platforms can be used for lending services. These measures aim to regulate the South Korean crypto asset lending market and drop investor risks.