PiCK
20% cap on digital-asset exchange stakes?… “Final decision to be made at tomorrow’s ruling party-government talks”
Summary
- Regarding reports that the government and the National Assembly have agreed on a plan to cap controlling shareholders’ ownership stakes in digital-asset exchanges at 20%, the Democratic Party of Korea’s Digital Asset TF said a final conclusion has not yet been reached.
- A Democratic Party Digital Asset TF official said a final conclusion on the ownership cap for controlling shareholders of digital-asset exchanges would likely be reached through tomorrow’s party-government consultations, adding that nothing has been finalized so far.
- Some outlets reported that, with a three-year grace period after the law takes effect, major exchanges such as Upbit and Bithumb would be subject to the 20% stake regulation starting three years later, but a TF official said this is only one of the internally discussed options and not a final, confirmed decision.
Forecast Trend Report by Period
Amid reports that the government and the National Assembly have agreed on a plan to limit the ownership stake held by controlling shareholders of digital-asset exchanges to 20%, the Democratic Party of Korea’s Digital Asset Task Force (TF) said a final conclusion has not yet been reached.
On the 4th, a Democratic Party Digital Asset TF official told BloombergBit by phone, “A final conclusion will likely be reached through tomorrow’s party-government consultation,” adding, “Nothing has been finalized so far.”
Earlier, some outlets reported that the government and the Democratic Party’s Digital Asset TF had agreed on a plan to cap controlling shareholders’ stakes in digital-asset exchanges at 20%. The report said that, with a three-year grace period after the law takes effect, major exchanges such as Upbit and Bithumb would be subject to the 20% stake regulation starting three years later.
In response, the TF official said, “The 20% cap is one of the options discussed within the TF,” but added, “Because it has not yet gone through party-government consultations, it is not a final, confirmed decision.”
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
