South Korea sets the maximum shareholding ratio for major shareholders of cryptocurrency exchanges at 20%

For major exchanges like Upbit and Bithumb, the new restrictions will be implemented after a three-year grace period following the enactment of the legislation, while smaller exchanges will receive an additional three years to adapt.

This move will force most of South Korea's major cryptocurrency exchanges to undergo significant restructuring, such as Bithumb Holdings currently controlling over 73% of Bithumb, while Binance holds over 67% of Gopax. According to reports, this ownership cap is expected to be included in South Korea's upcoming "Digital Asset Basic Law," which will also cover key issues such as stablecoin issuance and cryptocurrency ETFs.