South Korea’s Financial Services Commission wants to move virtual asset exchanges to a licensing system, and major shareholders’ stakes may also be restricted. The immediate market impact is likely to be changes to local platforms’ ownership structures and compliance costs; activity in the won market could also become more sensitive to sentiment. The news contains no new prices and is not enough to rewrite the outlook for $BTC .
Lee Eok-won told the National Assembly that the ownership restrictions in the Digital Assets Basic Act were not imposed at the direction of any particular person. Rather, exchanges will need to shoulder greater public responsibility as they become institutionalized. Currently, they renew their registration every three years; once the bill takes effect, the system will shift to licensing. He stressed that exchanges are infrastructure and that their public role and responsibilities must keep pace.
Lawmakers had questioned why the provision was absent from the Financial Services Commission’s original proposal and whether there had been outside influence. If the restrictions are enforced, major shareholders and potential acquirers could be forced to sell shares worth several trillion won. Lee said the bill is still being drafted, that the specific restrictions could be worked out during parliamentary review, and that the views of all parties would be heard.
With ownership rules and licensing both tightening, control of South Korea’s local exchanges will be the first issue up for discussion. Which concerns you more: the cap on shareholdings or the licensing system itself?
#韩国监管 #DigitalAssets
Lee Eok-won told the National Assembly that the ownership restrictions in the Digital Assets Basic Act were not imposed at the direction of any particular person. Rather, exchanges will need to shoulder greater public responsibility as they become institutionalized. Currently, they renew their registration every three years; once the bill takes effect, the system will shift to licensing. He stressed that exchanges are infrastructure and that their public role and responsibilities must keep pace.
Lawmakers had questioned why the provision was absent from the Financial Services Commission’s original proposal and whether there had been outside influence. If the restrictions are enforced, major shareholders and potential acquirers could be forced to sell shares worth several trillion won. Lee said the bill is still being drafted, that the specific restrictions could be worked out during parliamentary review, and that the views of all parties would be heard.
With ownership rules and licensing both tightening, control of South Korea’s local exchanges will be the first issue up for discussion. Which concerns you more: the cap on shareholdings or the licensing system itself?
#韩国监管 #DigitalAssets