7 月 31 日，据 Decrypt 报道，韩国金融服务委员会（FSC）和金融监督院（FSS）上周五针对 Upbit 和 Bithumb 推出高达 4 倍杠杆的借贷产品提出关切，这些产品允许通过借入资金进行卖空。Upbit 已暂停了其 USDT 借贷服务，而 Bithumb 则在周二调整了其结构，但保留了备受争议的 4 倍杠杆比例。韩国加密专家警告，更严格的法规可能将用户推向合规标准较弱的离岸平台，削弱韩国保护投资者和塑造其加密货币市场的能力。

<div><p>7 月 31 日，据 Decrypt 报道，韩国金融服务委员会（FSC）和金融监督院（FSS）上周五针对 Upbit 和 Bithumb 推出高达 4 倍杠杆的借贷产品提出关切，这些产品允许通过借入资金进行卖空。Upbit 已暂停了其 USDT 借贷服务，而 Bithumb 则在周二调整了其结构，但保留了备受争议的 4 倍杠杆比例。韩国加密专家警告，更严格的法规可能将用户推向合规标准较弱的离岸平台，削弱韩国保护投资者和塑造其加密货币市场的能力。</p></div>

韩国对Upbit和Bithumb的加密货币借贷及保证金交易服务提出警告

On July 31, according to <Decrypt>, the Financial Services Commission (FSC) and Financial Supervisory Service (FSS) raised concerns last Friday about Upbit and Bithumb launching lending products with up to 4x leverage, which allow short selling through borrowed funds. Upbit has suspended its USDT lending service, while Bithumb adjusted its structure on Tuesday but retained the controversial 4x leverage ratio. Korean crypto experts warn that stricter regulations might push users towards offshore platforms with weaker compliance standards, undermining Korea's ability to protect investors and shape its cryptocurrency market.

<div><p>On July 31, according to Decrypt, the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) raised concerns last Friday about Upbit and Bithumb's lending products with up to 4x leverage, which allow short selling through borrowed funds. Upbit has suspended its USDT lending service, while Bithumb adjusted its structure on Tuesday but retained the controversial 4x leverage ratio. Korean crypto experts warn that stricter regulations may push users to offshore platforms with weaker compliance standards, undermining Korea's ability to protect investors and shape its cryptocurrency market.</p></div>

South Korea issues warning against Upbit and Bithumb’s cryptocurrency lending and margin trading services

Over the past six months, I've gone from being an observer of Web3 to entering the payment industry. Now, I've chosen to stop and cease working on Web3 payments.

This isn't a retreat after a failure, but rather a judgment and adjustment made after truly getting involved. In these past six months, I've traveled to Yiwu, Shuibei, Putian, and even Mexico, seeing how payments are actually implemented in the most prominent places mentioned in reports. I've also been involved, building a Web3 payment MVP, taking over accounts, developing Web3 payment tools, and trying to run my imagined path from the first step to the last.

But the further I went…

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