FSC's initial digital asset bill draft lacked exchange shareholder limit

A controversial proposal to limit the stakes of major shareholders in cryptocurrency exchanges was not part of the initial legislative design for the second phase of South Korea's Digital Asset Basic Act, the Maeil Business Newspaper reported exclusively. The revelation has sparked suspicion in political circles that the regulation was abruptly inserted into the bill, deviating from early discussions. According to the report, South Korea’s Financial Services Commission (FSC) had commissioned a study from Seoul National University's Center for Financial Law during the initial planning stages, and the resulting paper did not include any provisions for shareholder limits. The outlet added that there is widespread speculation about ongoing disagreements within the presidential office regarding the direction of the legislation.