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<ul class="wp-block-list news-points">
 <li>South Korea’s FSS Governor raises concerns over crypto exchanges’ competitive interest rates.</li>
 <li>The Governor reveals the country’s plans to promote a free crypto market approach.</li>
 <li>The FSC Chairman highlights the significant impact of interest rates on crypto prices.</li>
</ul>
Lee Bok-hyun, Governor of South Korea’s Financial Supervisory Service (FSS), suggested the country may adopt a <a href="https://coinness.com/en/news/31389" target="_blank" rel="noopener noreferrer nofollow">free market approach to crypto</a>. During a parliamentary audit, the governor addressed concerns about competitive crypto interest rates on exchanges like Bithumb. As part of the Virtual Asset User Protection Act, the regulator is creating a flexible regulatory framework to ensure customer safety.
At the same time, Financial Services Commission (FSC) Chairman Kim Byoung-hwan noted the sensitivity of managing interest rates. He stressed their impact on prices and expressed a preference for voluntary solutions from exchanges.
South Korea began implementing new crypto regulations focused on customer protection on July 19 with the Virtual Asset User Protection <a href="https://coinedition.com/south-korea-enacts-new-protections-for-virtual-asset-users/" rel="noopener noreferrer nofollow">Act</a>. The FSS has already started enforcing these regulations, meeting with top crypto exchanges like Upbit, Bithumb, Coinone, Kor…
The post <a href="https://coinedition.com/south-korea-mulls-free-market-approach-for-crypto-interest-rates/" rel="noopener noreferrer nofollow">South Korea Mulls Free Market Approach for Crypto Interest Rates</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

South Korea Mulls Free Market Approach for Crypto Interest Rates

Coin Edition

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