South Korea Crypto Exchanges Oppose Proposed 20% Ownership Cap
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South Korean regulators are considering a 15-20% ownership cap for major crypto exchange shareholders, which could disrupt governance and slow strategic decisions. Exchanges argue that this proposal differs from traditional stock and bank regulations, raising concerns about global competitiveness.
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- South Korean regulators are weighing a 15–20% ownership cap for major crypto exchange shareholders.
- Exchanges warn forced stake changes could disrupt governance and slow strategic decisions.
- Industry disputes comparisons with stock and bank rules, citing structural differences in crypto markets.
South Korea’s digital asset exchanges are objecting to a government plan that would cap major shareholders’ stakes at 15–20%, arguing that forced changes to ownership structures could change decision-making and weaken their position in global markets.
According to sources, the Financial Services Commission (FSC) is reviewing a measure for inclusion in its “Digital Asset Phase 2 Legislation” that would restrict the voting stakes of key shareholders in domestic platforms such as Upbit and Bithumb.
The plan, which was reportedly shared with the ruling party’s…
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