Korean cryptocurrency exchange Coinone temporarily stops margin trading

South Korean crypto exchange Coinone announced today that starting at 18:00 Korean Time on October 10, 2017, new margin trading orders will be temporarily suspended.

With the Korean government in active discussion regarding bitcoin exchange regulation, the company decided that before re-starting any of their margin trading services, it will have thoroughly examined the legality of the service with their lawyers.

Coinone confirmed that they received a legal review statement confirming that the margin service was forbidden to provide to its members.

Recently, however, the opinion coming from government authorities is regarding an overheating concern due to the exceptional growth of the virtual money market.

Nevertheless, Coinone says it will temporarily suspend margin lending until more clarifications are provided by authorities.