South Korea reviews exclusive bank access model for cryptocurrency exchanges in 2026
On 20 January 2026, South Korean authorities began reassessing the country's unwritten "one exchange–one bank" model that links cryptocurrency platforms to individual domestic banks. Regulators are concerned that this structure concentrates liquidity, restricts smaller exchanges from accessing Korean won services, and may distort competition as they prepare broader digital asset legislation. The debate is unfolding alongside work on the Digital Asset Basic Act, which also addresses how banks will be involved with won-pegged stablecoins and reserve custody.