#southkoreadraftlawtargets15to20%shareholdercap
South Korea’s exchange ownership cap is back, and may now hit votes, not shares. 🇰🇷
Per Nov 8 reports, the FSC aims to submit the Digital Asset Basic Act this month:
Major shareholder cap: 15–20% 1–2 year transition for existing exchanges Possibly limiting voting rights only (property-rights concerns) Licensing replaces notification; bank-led won stablecoins
Who feels it most?
Dunamu (Upbit): chairman holds ~25.5%
Bithumb Holdings: ~73.6% of Bithumb
Upbit and Bithumb handle ~90% of local volume.
Still unsettled: March reports pointed to 20% with exceptions up to 34% and a three-year grace period. The bill must still pass the National Assembly.
Takeaway: no overnight change. A voting-rights limit means far less forced selling than a stake cap, so watch the final text. Won stablecoin rules matter for $USDT; exchange stability matters for BTC and ETH trading in Korea.
Better governance or a push offshore? 👇
#CryptoRegulation #Upbit #Bithumb
$BTC $ETH $USDT
South Korea’s exchange ownership cap is back, and may now hit votes, not shares. 🇰🇷
Per Nov 8 reports, the FSC aims to submit the Digital Asset Basic Act this month:
Major shareholder cap: 15–20% 1–2 year transition for existing exchanges Possibly limiting voting rights only (property-rights concerns) Licensing replaces notification; bank-led won stablecoins
Who feels it most?
Dunamu (Upbit): chairman holds ~25.5%
Bithumb Holdings: ~73.6% of Bithumb
Upbit and Bithumb handle ~90% of local volume.
Still unsettled: March reports pointed to 20% with exceptions up to 34% and a three-year grace period. The bill must still pass the National Assembly.
Takeaway: no overnight change. A voting-rights limit means far less forced selling than a stake cap, so watch the final text. Won stablecoin rules matter for $USDT; exchange stability matters for BTC and ETH trading in Korea.
Better governance or a push offshore? 👇
#CryptoRegulation #Upbit #Bithumb
$BTC $ETH $USDT
