South Korean financial regulators have reportedly decided to impose a 20% ownership limit on major shareholders of cryptocurrency exchanges. This move is aimed at improving corporate governance and preventing the excessive concentration of power within the digital asset industry. According to local media reports, the Financial Services Commission (FSC) is planning to implement these restrictions as part of an upcoming regulatory framework for virtual asset service providers. Under the new rules, any individual or entity currently holding more than a 20% stake would be required to divest their excess shares. This initiative follows growing concerns over market transparency and the potential for single entities to influence exchange operations. Industry analysts expect that the new cap will force significant structural changes for South Korea’s leading exchanges, including Upbit and Bithumb, as they move to comply with the stricter oversight standards.
Source: South Korean authorities settle on 20% ownership cap for crypto exchanges: report
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