#SouthKoreaDraftLawTargets15To20%ShareholderCap
South Korea is once again moving forward with a digital asset bill. And there's an interesting bit: they say they want to cap the stakes of major shareholders in crypto exchanges at 15–20%.
They say exchanges are already almost public infrastructure, so one guy shouldn't control everything. Those who already own a larger stake get a year or two to sell off the excess. Or they’ll simply cut voting rights if sorting out ownership proves too complicated.
Lawyers are already yelling that this is an encroachment on private property. They built the company with their own hands, and now the state says—hand it over. Europe and the U.S. don't do that; they look more at a shareholder's reputation than at percentages.
But the Koreans are stubbornly sticking to their guns. They want the market to be more dispersed. Though for now it's unclear whether this will actually help or just make life harder for local exchanges.$BTC $BNB $ETH
South Korea is once again moving forward with a digital asset bill. And there's an interesting bit: they say they want to cap the stakes of major shareholders in crypto exchanges at 15–20%.
They say exchanges are already almost public infrastructure, so one guy shouldn't control everything. Those who already own a larger stake get a year or two to sell off the excess. Or they’ll simply cut voting rights if sorting out ownership proves too complicated.
Lawyers are already yelling that this is an encroachment on private property. They built the company with their own hands, and now the state says—hand it over. Europe and the U.S. don't do that; they look more at a shareholder's reputation than at percentages.
But the Koreans are stubbornly sticking to their guns. They want the market to be more dispersed. Though for now it's unclear whether this will actually help or just make life harder for local exchanges.$BTC $BNB $ETH
