South Korea’s top financial watchdog has voiced support for limiting ownership stakes in cryptocurrency exchanges. This initiative, akin to rules in securities markets, forms a pillar of the proposed Digital Asset Basic Act.
Financial Services Commission Chair Lee Eog-weon emphasized that licensed exchanges are entities with public-infrastructure characteristics. This distinction necessitates a different regulatory approach.
The policy under review would restrict any major shareholder to a 15-20% stake. The proposal has triggered pushback from exchange operators and sparked internal debate within the Democratic Party.
Lee’s articulation provides the most unambiguous regulatory backing for the cap to date. It underscores a commitment to tighter governance in the shift toward a formal permissioned regime for crypto platforms.
