Threat to the country’s economy – South Korea’s central bank opposes crypto margin trading
The head of the Bank of Korea, Lee Ju Yeol, at a press conference after the meeting of the monetary policy committee, said that the use of borrowed funds for cryptocurrency trading by individuals in South Korea threatens the country’s financial system, writes The Korea Herald.
According to him, the main problem is the instability of digital assets. And the growth in the volume of cryptocurrency trading will in any case negatively affect the financial system of the Republic of Korea.
He also promised that he will closely monitor the monetary transactions of financial institutions in Korea that are engaged in cryptocurrency trading using leveraged funds. He added that he will definitely consider the option of cutting new loans.