South Korea Wants to Cap Crypto Exchange Ownership at 20% Forcing Founders to Sell

The South Korean government and ruling party reportedly reached a compromise requiring major shareholders in cryptocurrency exchanges to reduce their stakes to 20%, part of the Digital Asset Basic Act Phase 2 legislation that would convert exchanges from a notification regime to a formal licensing system. source: https://www.ethnews.com/south-korea-wants-to-cap-crypto-exchange-ownership-at-20-forcing-founders-to-sell/