TechFlow news, July 7, according to The Block, South Korea's Upbit parent company Dunamu and Naver Financial announced that their stock swap transaction has been postponed again, with the latest deadline extended to December 31, 2026. This is the second postponement of the transaction, previously delayed from June 30 to September 30 in March this year.
The two companies stated that the "Digital Asset Basic Act" currently being formulated in South Korea may affect the progress and even the final outcome of the transaction. The bill contains controversial provisions proposing to set the upper limit of major shareholders' shareholding ratio in domestic crypto exchanges at 20%, which will directly affect Upbit's existing equity structure if implemented. Previously, the transaction plan involved Naver Financial issuing approximately 87.56 million new shares, with a total value of about 15.13 trillion won (approximately $9.9 billion), to promote synergistic development between both parties in the fields of digital assets and the integration of AI and blockchain.
