South Korea weighs transition steps on crypto exchange ownership caps

South Korean financial authorities are maintaining their policy direction of limiting major shareholders’ stakes in crypto exchanges to disperse ownership as part of legislation for a basic digital asset law, while considering transition measures that would allow existing major shareholders to sell stakes legally without causing market disruption, Newsis reported. Authorities are also reviewing ways to ease the process so major shareholders’ property rights are not excessively infringed, including allowing individual shareholders to hold 15% to 20% and consortium structures to hold more than 30% in consideration of practical management control, according to the report.