South Korea Says Crypto Exchange Ownership Limits Are Not Targeted
Photo: TokenPost
South Korea will strengthen oversight of major shareholders in virtual asset exchanges while rejecting claims that proposed ownership limits target a specific company or individual. Financial Services Commission Chair 李亿元 said the restrictions are part of the country’s effort to establish a stronger operating framework for exchanges under the Digital Asset Basic Act, which is being advanced. South Korean exchanges currently operate under a reporting system that requires renewal every three years. The framework is expected to shift to licensing once the law takes effect. 李亿元 said exchanges have an infrastructure-like role and therefore need corresponding public responsibilities.
Also reported by Coincu.
Source: TokenPost
