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The Financial Services Commission of South Korea has led the establishment of a "Virtual Asset Loan Service" working group, and is expected to announce related guidelines next month.
BlockBeats News, July 31st. According to Yonhap News Agency, the Korea Financial Services Commission and Financial Supervisory Service today held the first meeting of the "Virtual Asset Loan Service" Task Force in collaboration with the Digital Asset Exchange Association (DAXA) and five major cryptocurrency exchanges, planning to establish relevant regulatory guidelines. This guidance will reference overseas and domestic regulatory experiences, intending to cover aspects such as leverage ratios, service targets, allowable lending assets, user education and risk warnings, while also examining internal control standards of exchanges and high-risk services. The related guidelines are expected to be released next month and will be included in the second phase of virtual asset legislation process.
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