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South Korean Crypto Exchanges Push Back Against Proposed Ownership Caps
South Korean Crypto Exchanges Push Back Against Proposed Ownership Caps
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BTCCSquare news:
South Korea's Digital Asset Exchange Alliance (DAXA) — representing major platforms like Upbit, Bithumb, and Korbit — has publicly opposed the Financial Services Commission's proposal to limit major shareholder stakes in crypto exchanges to 15%-20%. The alliance argues such restrictions WOULD destabilize operational accountability and drive users toward offshore platforms.
DAXA's statement emphasizes that the caps would impair domestic exchange competitiveness during a critical growth phase for Korea's crypto sector. The group warns of unintended consequences, including reduced investor confidence and stifled innovation in one of Asia's most active digital asset markets.
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