Gov’t to impose cap on crypto exchange ownership, citing broader public role
Financial Services Commission Chairman Lee Eog-weon speaks during a media conference at Government Complex Seoul, Wednesday. Yonhap
Financial Services Commission Chairman Lee Eog-weon formally stressed Wednesday the need to limit the ownership stakes of major shareholders in virtual asset exchanges. He said the move is necessary to align governance standards with the exchanges’ increasing public role.
The remarks indicate that the country’s top financial regulator intends to push ahead with the plan despite resistance from industry players and concerns raised by the ruling Democratic Party of Korea.
The regulator is reportedly reviewing a cap of about 15 to 20 percent on controlling shareholders’ stakes, a provision increasingly…
