TechFlow news, December 30 — According to South Korea's KBS, the Financial Services Commission has proposed new ownership restrictions on the country's four major virtual asset exchanges in its "Digital Asset Basic Act." The commission recommends limiting major shareholders' stakes to between 15% and 20%, similar to the rules under the Capital Markets Act for alternative trading systems (ATS).
If approved, the chairman of Upbit operator Dunamu would need to sell approximately 10% of his shares, currently holding around 25%. Bithumb Holdings owns 73% of Bithumb, and the Coinone chairman holds 54%, both requiring significant divestments.
The Financial Services Commission views these exchanges, serving 11 million users, as "core infrastructure" for virtual asset circulation. However, it states that "a small number of founders and shareholders currently exert excessive control over exchange operations," with substantial revenues such as trading fees concentrated in the hands of specific individuals.
