South Korean opposition to challenge proposed crypto exchange ownership cap

Lawmakers from South Korea's opposition People Power Party are preparing to challenge a government proposal to limit ownership stakes in virtual asset exchanges during a National Policy Committee meeting on Feb. 5, Dailian reported. The government, led by the Financial Services Commission, is considering a plan to cap equity held by major shareholders and their related parties at 15% to 20%. The opposition lawmakers are expected to argue that the proposed restrictions are potentially unconstitutional.