The Korean Financial Services Commission proposes to limit the shareholding ratio of major shareholders in domestic leading cryptocurrency exchanges to 15% to 20%.
Foresight News reported, citing KBS, that the Korean Financial Services Commission has designated a certain exchange with 11 million users as "core infrastructure" for virtual asset circulation. The Financial Services Commission pointed out, "A small number of founders and shareholders exercise excessive control over the overall operation of the exchange, which poses related issues. There are also suggestions that the ownership structure, where huge operational profits such as fees are concentrated in specific individuals, should be improved." Therefore, the Financial Services Commission explicitly stated in its coordination plan that a "major shareholder eligibility review system" similar to the Alternative Trading System (ATS) level under the Capital Markets Act should be established.
Specifically, a proposal was put forward to limit the ownership dispersion standard for major shareholders to between 15% and 20%. According to the current Capital Markets Act, alternative trading systems, including those with special relationships, are not allowed to hold more than 15% of voting shares.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Sentora: Yield stablecoins to generate over $250 million in returns by 2025
Data: Yield-bearing stablecoins to generate over $250 million in returns in 2025
