South Korea to Enforce 20% Ownership Cap on Crypto Exchanges
Share:
South Korea plans to limit major crypto exchange ownership to 20%, with a 3-year deadline for compliance. Exceptions allow ownership up to 34% under certain conditions. This regulation aims to enhance oversight and investor protection in the crypto market.
Predictions Markets
See what traders are focused on
- South Korea plans to limit the ownership of major crypto exchanges to 20%.
- Once the law is finalized, exchanges would have 3 years to meet the new ownership limits.
- FSC has agreed to allow up to 34% ownership under certain exceptions.
South Korean officials have reportedly decided to cap how much equity major shareholders can hold in local crypto exchanges, limiting it to 20%. If the rule takes effect, big players like Upbit and Bithumb could be forced to restructure.
This is part of the country’s long-awaited Digital Asset Basic Act, which is a comprehensive regulatory framework. Its main goals are to tighten oversight, protect investors, and bring order to one of Asia’s busiest crypto markets.
Local reports say regulators from the Financial Services Commission (FSC) and lawmakers on the ruling party’s Digital Asset Task Force have come to terms on the cap af…
Read The Full Article South Korea to Enforce 20% Ownership Cap on Crypto Exchanges On Coin Edition.
Read More
Bitcoin Kimchi Premium Hits Lowest Level Since March 2022
