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

This move stems from the recent intensified competition among exchanges, especially Bithumb, which once raised the annualized interest rate to 4.0% and then withdrew it. FSS emphasized that the utilization rate should be reasonably calculated and required exchanges to report in detail the deposit operation and rate calculation method.