South Korea’s FSC Pushes 20% Ownership Cap on Crypto Exchanges Despite Industry Opposition

TLDR: FSC proposes 15-20% ownership cap on crypto exchange major shareholders under Digital Asset Basic Act framework.  Upbit operator Dunamu and Coinone would face forced divestment as current stakes exceed proposed limits.  New authorization system would grant exchanges permanent status, elevating them to public infrastructure level.  Ruling Democratic Party raises concerns that ownership caps are [...]

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