South Korea plans to limit the shareholding ratio of major shareholders in cryptocurrency exchanges to 15% to 20%, with Upbit and others potentially facing equity adjustments

According to KBS, the Financial Services Commission of South Korea proposed in the "Basic Digital Asset Act" submitted to the National Assembly to limit the shareholding ratio of major shareholders in the country's four largest virtual asset exchanges, suggesting it be set between 15% and 20%, aimed at preventing a few founders and shareholders from controlling the operation of the exchanges.

If this proposal is implemented, Dunamu Chairman Song Ji-heung may be required to forcibly sell about 10% of his shares. Platforms such as Bithumb and Coinone will also face significant changes in governance structure, raising concerns in the industry about excessive government regulation.