What do you get when you mix a unique system of apartment rentals involving fronting the landlord sometimes tens or hundreds of thousands of dollars for a term loan called ‘Jeonse, a crypto capital gains tax, and a government looking to tax crypto while restricting ‘Jeonse’ loans? A fertile ground for the development of crypto loans. In Korea many people do not pay rent every month. No, this doesn’t mean that it’s a nation of freeloading squatters, but rather tenants deposit a sum of money equivalent to 50-70% of the property’s value into the landlord’s account for the term of the lease. When the tenants move out, ... (full story)