South Korea moves to cap crypto exchange ownership at 20% for individuals, 34% for firms

South Korea is moving to cap ownership stakes in crypto exchanges at 20% for individuals, including related parties, and 34% for corporations, News1 reported. The ruling Democratic Party's Digital Asset Task Force and South Korean financial authorities have reportedly reached a preliminary agreement to include these limits in a forthcoming basic act on digital assets. The proposal is slated for final confirmation at a party-government consultative meeting. While these proposed ceilings are higher than the 15-20% range previously discussed, major shareholders of leading exchanges like Upbit, Bithumb, and Korbit would still be required to sell off significant portions of their holdings.