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Bithumb Exchange Cuts Crypto Lending Services Following Regulatory Pressure
Bithumb Exchange Cuts Crypto Lending Services Following Regulatory Pressure
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Bithumb exchange News -
South Korean crypto exchange Bithumb has significantly reduced its crypto lending services due to regulatory scrutiny. Leverage ratios have been cut from 4x to 2x, and maximum loan amounts were reduced by 80% to 200 million won ($1,436). This marks a sharp reversal for the platform, which only introduced the service in July.
The exchange temporarily halted lending operations on July 29, citing low volume, before relaunching the service with new restrictions on August 8. "We've adjusted terms to improve investor protection and service quality," a Bithumb spokesperson said, without directly mentioning regulatory influence. The updated terms apply to all users, including high-volume traders with over 100 billion won in cumulative transactions.
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