The cryptocurrency industry and legal community have voiced strong opposition to South Korea's proposal to cap the percentage of shares held by major shareholders in crypto exchage at 15%.

According to Newis, the crypto industry and legal community have voiced strong opposition to South Korea's proposal to cap the percentage of shares held by major shareholders in crypto exchage at 15%. Industry insiders point out that self-regulation is already in place through DAXA (Digital Asset Exchanges Agreement), making it difficult for major shareholders to make significant decisions independently. Forcibly setting a shareholding cap would be excessive regulation that ignores the industry's characteristics and could negatively impact mergers and strategic partnerships such as the Naver-Dunamu merger and Mirae Asset Group's acquisition of Korbit. Legal experts warn that requiring private companies to forcibly dispose of their shares, given the existing system for verifying the eligibility of major shareholders, could lead to disputes over property rights infringements.