South Korea Halts Crypto Lending Amidst Market Concerns and $1.1B Loan Boom

South Korea’s cryptocurrency market has been put on pause as regulators have halted all crypto lending services following a rapid surge in investment, raising concerns about investor safety. The Financial Services Commission (FSC), the nation’s top financial regulator, ordered exchanges to stop offering these services by Tuesday, citing the lack of clear rules that could protect investors from potential risks and losses.