The Financial Supervisory Service of South Korea convened five major virtual asset exchanges, including Upbit and Bithumb, to discuss deposit utilization rates

ChainCatcher news, the Financial Supervisory Service (FSS) of South Korea urgently summoned five major virtual asset exchanges, including Upbit and Bithumb, to discuss the issue of deposit utilization rates.

This move stems from the recent intensification of rate competition among exchanges, especially after Bithumb temporarily raised the annual interest rate to 4.0% and then retracted it. The FSS emphasized that utilization rates should be calculated reasonably and required exchanges to provide detailed reports on deposit operations and rate calculation methods.