PANews reported on August 19th that, according to The Block, South Korea's Financial Services Commission (FSC) has notified local digital asset exchanges to suspend cryptocurrency lending services until relevant regulatory guidelines are issued. The FSC noted that these services operate in a legal gray area and pose a risk of user losses. Previously, exchanges such as Upbit and Bithumb had launched crypto lending services, but some users had their positions forced to close due to price fluctuations. The FSC will allow repayments and extensions on existing contracts and plans to conduct on-site inspections of exchanges that fail to comply with the guidelines.