Korea FSC Reviews Hana Bank's Acquisition of Dunamu Stake for Violations of Regulatory Rules

South Korea's Financial Services Commission (FSC) is reviewing whether Hana Bank's acquisition of a stake in Dunamu violates the regulatory rule of "separation between finance and virtual assets."

The Virtual Asset Department of the FSC stated that by acquiring shares of Kakao Investment, Hana Bank indirectly holds equity in Dunamu, which is essentially an investment in a virtual asset trading platform and will therefore be reviewed under the same regulatory standards.

The report states that since 2017, the South Korean government has restricted financial institutions from holding or purchasing virtual assets or making equity investments in related companies through administrative guidance. If it is ultimately deemed a violation, Hana Bank's related transaction may not be completed.

Additionally, Mirae Asset Consulting is currently promoting the acquisition of management rights for Kobit, while Korea Investment & Securities remains cautious about related businesses. Hana Bank had previously announced plans to acquire approximately 6.55% of Dunamu's shares but did not consult with the regulatory authorities beforehand. (iNews24)