South Korea FSC proposes 20% cap on major crypto exchange shareholders

South Korea's Financial Services Commission has proposed capping major shareholders' ownership in cryptocurrency exchanges at 20%. On Tuesday, DAXA, representing the five largest platforms, opposed the measure, warning of market disruption and possible forced stake reductions for figures such as Song Chi-hyung and Cha Myung-hun. The plan could also affect Naver's 20 trillion KRW agreement with Dunamu.