Wu Blockchain(@WuBlockchain ):South Korea’s Financial Services Commission (FSC) has ordered local crypto exchanges to suspend lending services effective immediately until official guidelines are introduced. The FSC said such services exist in a legal gray area and have already forced 13% of borrowers into liquidation. Existing contracts can be extended or repaid, and non-compliant exchanges will face on-site inspections.

Wu Blockchain

@WuBlockchain

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Wu Blockchain@WuBlockchain

2025.08.19 05:58

South Korea’s Financial Services Commission (FSC) has ordered local crypto exchanges to suspend lending services effective immediately until official guidelines are introduced. The FSC said such services exist in a legal gray area and have already forced 13% of borrowers into liquidation. Existing contracts can be extended or repaid, and non-compliant exchanges will face on-site inspections. https://t.co/zAYTCcqxg7