Rich by Coin

The Financial Services Commission proposed in the Basic Digital Asset Act to limit major shareholders’ stakes in Korea’s four largest virtual asset exchanges to 15%–20%. The move aims to prevent a small group of founders and investors from controlling exchange operations. If enacted, Dunamu Chairman Song Ji-heung could be required to divest about 10% of his stake. This would mark a significant shift in ownership for Korea’s leading crypto exchange operator.

The measure would cap major shareholders at 15%–20% across Korea’s four largest crypto exchanges, with the goal of curbing founder or investor control over operations. The proposal would prompt governance changes at platforms such as Bithumb and Coinone and could trigger broader regulatory scrutiny across the sector. Industry observers say the move signals heightened regulatory oversight and could necessitate changes in governance structures across major exchanges, potentially altering ownership dynamics and how exchanges are managed in Korea. If enacted, the reforms would require exchanges to adjust ownership and governance to comply with the new cap.