Crypto lending recovers in South Korea despite stricter rules

Despite the strengthening of regulation by South Korea's financial authorities, major exchanges, including Upbit, Bithumb and Coinone, are still resuming cryptocurrency lending services under new government regulations. Coinone recently launched a “cryptocurrency lending” service that allows users to borrow cryptocurrency on Korean won collateral, with individual limits ranging from $22,000 to $51,000. Upbit has adjusted its plan to lower the maximum collateral cap to $28,000; while Bithumb confirmed that regulations are being revised to meet the FSC’s requirements to emphasize investor protection and market stability.