In the last year, South Korean cryptocurrency exchanges have paid customers a total of $87 million in interest on their fiat deposits. This development follows the introduction of the Virtual Asset User Protection Act, which requires exchanges to offer fair interest rates. Leading platforms like Upbit, Bithumb, Coinone, Korbit, and GOPAX have significantly increased their interest offerings compared to previous years, driving competitive rates higher than traditional banks. Despite recent rate reductions linked to Bank of Korea’s monetary policy, these exchanges continue to provide attractive interest to users. Regulatory authorities and lawmakers are actively monitoring the market to ensure fair competition and enhanced user protection.
Continue to read South Korea's Crypto Exchanges Reward Customers with $87M in Fiat Deposit Interest Over Past Year
In the last year, South Korean cryptocurrency exchanges have paid customers a total of $87 million in interest on their fiat deposits. This development follows the introduction of the Virtual Asset User Protection Act, which requires exchanges to offer fair interest rates. Leading platforms like Upbit, Bithumb, Coinone, Korbit, and GOPAX have significantly increased their interest offerings compared to previous years, driving competitive rates higher than traditional banks. Despite recent rate reductions linked to Bank of Korea’s monetary policy, these exchanges continue to provide attractive interest to users. Regulatory authorities and lawmakers are actively monitoring the market to ensure fair competition and enhanced user protection.
Continue to read South Korea's Crypto Exchanges Reward Customers with $87M in Fiat Deposit Interest Over Past Year
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