KH: Korea central bank says leveraged crypto trading threatens banking system

Leveraged cryptocurrency trading by individuals in South Korea threatens the nation’s financial system, Bank of Korea Gov. Lee Ju-yeol said at a press conference cited by the Korea Herald. Given the price volatility of virtual assets, increased trading in such assets leaves Korea’s financial system subject to instability, Lee said.

“An excessive level of leveraged cryptocurrency trading puts households at risk of financial damages considering the instability of (cryptocurrency),” Lee told reporters. “We expect (the increasing amount of crypto trading) to have a negative impact on the financial system in any respect.”

Read the full article

Related Posts

Previous Post
ESMA consults on TR data transfers under EMIR and SFTR
Next Post
Fed proposes modifications to Payment System Risk to expand collateralized capacity

Related Posts

Fill out this field
Fill out this field
Please enter a valid email address.

Menu
X

Reset password

Create an account