Today in Markets: Sayonara Shorts

Bankless market analysis for November 6, 2023
Jack Inabinet Jack Inabinet Nov 6, 20231 min read
Today in Markets: Sayonara Shorts

South Korean financial authorities have banned short-selling until next June. The Korean tech index (KOSDAQ) posted its largest single-day gain in history, but the move begs the question: is crypto the only free marketplace?

The stated intention of the measure is to eliminate naked short selling, a practice that is already illegal in Korea – involving shorting shares without actually borrowing them, but the ban will apply to all short selling.

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