South Korea plans to limit major shareholders' ownership of crypto exchage to 15% to 20%, potentially leading to equity restructuring for companies like Upbit.

[South Korea Proposes Limiting Crypto Exchage Shareholding to 15%-20%, Upbit and Others May Face Equity Adjustments] According to KBS, the South Korean Financial Services Commission, in its proposed "Digital Asset Basic Act" submitted to the National Assembly, suggested limiting the shareholding of major shareholders in the country's four largest virtual asset exchanges to between 15% and 20%, aiming to prevent a small number of founders and shareholders from controlling the exchanges' operations. If this plan is implemented, Song Chi-hyung, chairman of Upbit's parent company Dunamu, may be forced to sell approximately 10% of his shares. Bithumb, Coinone, and other platforms will also face significant changes in their governance structures, raising concerns within the industry about excessive government regulation.