South Korea Proposes 34% Ownership Cap for Major Shareholders in Crypto Exchanges

South Korea's ruling Democratic Party is set to introduce a new regulation under the forthcoming Digital Asset Basic Act, which will impose a 34% ownership cap for major shareholders in domestic cryptocurrency exchanges. According to NS3.AI, this cap will be applicable to both new and existing exchanges. The party plans to submit the bill for legislative approval following the final endorsement from a consultative body.