FSC Chair Calls for Shareholding Limits on Crypto Platforms
South Korea’s Financial Services Commission is advocating for ownership caps on cryptocurrency exchanges, drawing inspiration from securities market regulations. This stance is formalized in the pending Digital Asset Basic Act.
According to FSC Chair Lee Eog-weon, licensed exchanges must be recognized for their public-infrastructure role. This perspective moves them beyond the treatment accorded to standard private enterprises.
The proposed cap, set between 15% and 20% for major shareholders, has met resistance. Exchange operators and some members of the ruling party have voiced apprehensions about the plan.
Although discussed previously, Lee’s comments offer the strongest official endorsement yet. They clarify the regulator’s intent to impose strict governance as platforms seek formal licensure.
