South Korea’s draft Digital Asset Basic Act is moving forward, with the Financial Services Commission aiming to submit it by the end of November.
A key provision would cap any single shareholder’s stake in a crypto exchange at 15% to 20%, in line with rules for alternative trading systems. Existing platforms may be given a one- to two-year transition period to make adjustments. There is also discussion of limiting only voting rights to reduce disputes over property rights. The licensing regime would shift from registration to approval, while stablecoin issuance would likely be led by bank-led consortia. The draft also addresses no-fault liability for compensation in the event of hacks or system failures.
The framework primarily targets excessive ownership concentration and seeks to steer exchanges toward a more diversified structure, closer to that of traditional financial infrastructure. The largest platforms would be most affected, and the likelihood of subsequent ownership restructuring and the introduction of institutional shareholders would increase. The bill is still at the interagency coordination stage, and the final figures and transition arrangements may change.
Keep an eye out for the formal text as discussions continue.
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#韩国草案拟设交易所持股上限15%至20% $BTC $BNB $SOL
Disclaimer: The above is based solely on publicly available reports and does not constitute investment advice. Markets involve risks; all decisions should be made independently.
A key provision would cap any single shareholder’s stake in a crypto exchange at 15% to 20%, in line with rules for alternative trading systems. Existing platforms may be given a one- to two-year transition period to make adjustments. There is also discussion of limiting only voting rights to reduce disputes over property rights. The licensing regime would shift from registration to approval, while stablecoin issuance would likely be led by bank-led consortia. The draft also addresses no-fault liability for compensation in the event of hacks or system failures.
The framework primarily targets excessive ownership concentration and seeks to steer exchanges toward a more diversified structure, closer to that of traditional financial infrastructure. The largest platforms would be most affected, and the likelihood of subsequent ownership restructuring and the introduction of institutional shareholders would increase. The bill is still at the interagency coordination stage, and the final figures and transition arrangements may change.
Keep an eye out for the formal text as discussions continue.
Follow me for more news and updates.
#韩国草案拟设交易所持股上限15%至20% $BTC $BNB $SOL
Disclaimer: The above is based solely on publicly available reports and does not constitute investment advice. Markets involve risks; all decisions should be made independently.