Korean legislative body: Crypto exchange stake limit may be unconstitutional

South Korea's National Assembly Research Service (NARS) has concluded that a proposal by the government and the ruling Democratic Party to cap major shareholder stakes in cryptocurrency exchanges may be unconstitutional, the Dong-A Ilbo reported. In a response to an inquiry from People Power Party lawmaker Kim Sang-hoon on March 4, NARS stated that such a limit could infringe on constitutionally protected rights to property, occupation, and corporate freedom. The agency argued that because shares are a protected form of property, linking ownership limits to the potential revocation of an exchange's license would violate the right to freely hold and dispose of assets. CoinNess previously reported that the cap being considered for inclusion in a proposed basic act on digital assets was expected to be around 20%.