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Pledge one crypto to borrow another
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- 🚀 Gate $PUMP Futures Trading Challenge is Now Live!
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Include CandyDrop or Launchpool participation screenshot
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📖 Day 1 · Quiz (Single Choic - 💥 Gate Square Event: #SOMI Creative Contest# 💥
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(T
South Korea will limit the interest rate cap on cryptocurrency lending to 20% and prohibit leveraged lending.
According to ChainCatcher news and Theblock report, South Korea's financial regulatory agency has issued new guidelines for lending services at local cryptocurrency exchanges to enhance investor protection. Under the new regulations, the maximum interest rate for cryptocurrency lending is set at 20%, and leveraged lending beyond the value of the collateral is explicitly prohibited. In addition, the guidelines stipulate that only the top 20 cryptocurrencies by market capitalization, or cryptocurrencies traded on three or more platforms, can be used for lending services. These measures aim to regulate South Korea's cryptocurrency lending market and reduce investor risk.