8legs: Lee eog-weon

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South Korea Proposes Crypto Exchange Ownership Cap; Upbit, Coinone May Reduce Stakes

South Korea's FSC proposes a 15–20% cap on controlling shareholders in major crypto exchanges.
The cap aims to align governance standards with the exchanges' growing public role, the FSC says.
Officials say licensed exchanges would resemble public infrastructure, not private firms.
Upbit and Coinone face pushback over the cap amid broader regulatory moves in crypto.
The cap would be considered in the tentative Digital Asset Basic Act as part of phase two.
Chair Lee Eog-weon stressed limits on major shareholders to curb conflicts of interest.
The government also plans to expand anti-money laundering rules, including Travel Rule expansion.
Upbit, Coinone stakes are cited: Upbit owners over 28%, Coinone founder around 53%.
Discussions with the National Assembly and ministries will continue to move the bill forward.
The article notes broader regulatory efforts across crypto markets in Korea.

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