South Korea Flags Upbit and Bithumb’s Crypto Lending, Margin Trading Services

In brief South Korea’s FSC and FSS summoned officials from five major crypto exchanges after Upbit and Bithumb launched lending products offering up to 4x leverage, enabling short-selling through borrowed funds. Upbit suspended its Tether lending service, citing potential violations of Korea’s Lending Business Act, while Bithumb modified its structure but maintained controversial 4x leverage...