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The South Korean financial authorities will release guidelines for virtual asset lending in August.
[The South Korean financial authorities will release virtual asset lending guidelines in August] According to Yonhap News Agency, the Financial Commission and the Financial Supervisory Service 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 guidelines are expected to be released in August and will cover aspects such as leverage usage regulations, applicable user scope, range of borrowable assets, and risk disclosure. The financial authorities also requested exchanges to reassess services that may pose risks of user losses or legal risks.