The Financial Services Commission chief says ownership limits are still under negotiation as lawmakers debate the Digital Asset Basic Act ahead of a mid-February deadline.
South Korea’s top financial regulator said crypto exchanges should face ownership limits similar to those applied to securities markets, signaling a harder public stance on governance reforms under the country’s proposed Digital Asset Basic Act.
According to a report by The Korea Times, the Financial Services Commission (FSC) Chair Lee Eog-weon said licensed crypto exchanges should no longer be treated as ordinary private companies but as entities with public-infrastructure characteristics.
Lee’s comments come as the FSC reviews a proposal to cap major shareholders’ stakes in crypto exchanges at around 15% to 20%, a measure that has drawn resistance from exchange operators and raised concerns within the ruling Democratic Party.
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