South Korean financial authorities will release guidelines for virtual asset lending in August

According to a report by Golden Finance, the Financial Commission and the Financial Supervisory Authority announced on July 31 that they will form a working group with the Digital Asset Exchange Association (DAXA) and five virtual asset exchanges to develop guidelines for virtual asset lending services. The guide is expected to be released in August, covering regulations on the use of leverage, applicable user scope, scope of loanable assets, risk disclosure, and other aspects. The financial authorities also require exchanges to re-examine services that may pose risks of user loss or legal risks.