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Korea eyes market share-based caps on crypto exchange major owners
As the Bitcoin mispayment incident at the virtual asset exchange Bithumb adds momentum to calls to cap exchanges' major shareholders' equity stakes, the political sphere is reviewing a plan to apply equity limits differentially based on market share. The government, as it formally licenses virtual asset exchanges, is pushing to cap major shareholders' equity at 15%–20%, and in that case, to obtain a license, a major shareholder would have to sell any excess equity to a third party. The financial authorities are said to prefer a plan that brings institutional financial firms such as banks or securities companies in ... (full story)
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