Major Shareholder Holding Restrictions for Virtual Asset Exchanges Are Not Targeting Specific Companies, South Korea's FSC Says It Will Strengthen Regulatory Responsibility

Odaily News: Lee Eok-won, Chairman of South Korea's Financial Services Commission (FSC), stated that the provision in the pending "Digital Asset Basic Act" regarding shareholding restrictions for major shareholders of virtual asset exchanges is not aimed at any specific individual or company, but rather takes into account the higher public responsibility that exchanges must bear once their operations become institutionalized. Currently, virtual asset exchanges in South Korea operate under a system requiring declaration renewal every three years, and once the "Digital Asset Basic Act" is implemented, they will transition to a licensing system. Lee Eok-won stated that exchanges possess infrastructure-like characteristics and must possess a level of public nature and responsibility commensurate with their status.