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DAXA challenges South Korea FSC plan for 15-20% shareholder cap on crypto exchanges
In early January 2026, South Korea's Digital Asset Exchange Alliance (DAXA), representing major local platforms such as Upbit, Bithumb, Korbit, Coinone, and Gopax, criticized the Financial Services Commission's plan to cap major shareholders' digital asset ownership at 15-20% on domestic exchanges. The group argues that the measure, tied to the forthcoming Digital Asset Basic Act, could weaken the local crypto market, drive users to overseas exchanges, and conflict with principles of market economy and investor protection.