Mirae Asset's planned Korbit acquisition faces regulatory hurdles

Mirae Asset Group's potential acquisition of a majority stake in the cryptocurrency exchange Korbit is likely to face significant difficulties, according to a report from iNews. The report notes that South Korean authorities are considering new rules to limit the stakes of major shareholders in virtual asset service providers. This could create eligibility issues for Mirae Asset Consulting. Furthermore, with the 'Phase 2 virtual asset legislation' containing these shareholder limits still pending in the National Assembly, financial authorities are unlikely to approve the deal until the new framework is finalized. This delay could lead to changes in the deal's structure or even its cancellation. Mirae Asset Group was previously reported to be in discussions to acquire the stakes held by Korbit's largest shareholder, NXC (60.5%), and its second-largest, SK Planet (31.5%).