The South Korea Financial Services Commission (FSC) is taking a stand against using credit cards to purchase cryptocurrency.

The financial watchdog believes this practice could lead to increased financial risk for consumers, as the volatile nature of cryptocurrencies may lead to significant financial losses.

The FSC's stance aligns with many other global regulators who have expressed concerns about the potential risks of investing in and transacting with cryptocurrencies.

They are now looking to put a formal ban on the purchase of cryptocurrency using credit cards.