Korea FSC Chairman: Exchange Ownership Cap Not Aimed at Any Specific Company

TREE NEWS reports: Lee Eok-won, Chairman of South Korea’s Financial Services Commission (FSC), stated that the proposed cap on major shareholders’ stakes in virtual asset exchanges under the Digital Asset Basic Act currently under deliberation is not aimed at any specific company. Speaking at a National Assembly audit, he said that as exchanges transition from a three-year registration renewal system to a licensing system, they will be required to assume public responsibilities commensurate with their role as infrastructure.