TechFlow reports that the Korea Financial Supervisory Service (FSS) has urgently convened South Korea's five major virtual asset exchanges, including Upbit and Bithumb, to discuss deposit utilization rate issues.
The move follows intensifying competition among exchanges over interest rates, particularly after Bithumb temporarily raised its annualized rate to 4.0% before withdrawing the offer. The FSS emphasized that utilization rates should be calculated reasonably and demanded detailed reports from exchanges on how deposited funds are managed and how rates are determined.
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