South Korea Halts Crypto Lending Amid Regulatory Concerns

South Korean regulators have ordered an immediate halt to crypto lending through local exchanges, citing regulatory uncertainties and the growing trend of borrowing activity on platforms like Upbit and Bithumb. This action impacts major cryptocurrencies including Ethereum (ETH) and Bitcoin (BTC), potentially disrupting exchange-based staking and lending services. While details are still unfolding, the order from the Financial Services Commission (FSC) and Financial Supervisory Service is expected to affect market stability pending further information.