South Korea's People Power Party Challenges Proposed Crypto Exchange Stake Limits

South Korea's People Power Party (PPP) has expressed opposition to the Financial Services Commission's (FSC) proposal to restrict major shareholders' stakes in cryptocurrency exchanges. According to NS3.AI, the PPP contends that these stake limitations may lead to management confusion and potential capital flight. The party also questions the timing and underlying motives of the proposed regulation, suggesting it could negatively impact the crypto industry in South Korea.