The change aims to balance growth and governance, limiting excessive control while supporting new crypto market entrants.
South Korea’s ruling Democratic Party and the Financial Services Commission have agreed to cap major shareholder stakes in domestic crypto exchanges at 20%. Exceptions of up to 34% would apply to new businesses to support early-stage operators.
Large exchanges like Upbit and Bithumb will have 3 years to comply, while smaller platforms will receive an additional 3-year grace period.
Current ownership exceeds the proposed cap, with Upbit at 25.5%, Bithumb at 73.6%, and Coinone at 53.4%. Korbit’s pending acquisition would give Mirae Asset Consulting 92% ownership,…
