BlockBeats News: On January 13, according to The Block, the Digital Asset Exchange Association of Korea (DAXA) issued a statement strongly opposing the government's consideration of imposing a cap on the shareholding ratio of major shareholders in digital asset trading platforms. On Tuesday, DAXA warned in a statement that the proposed restrictions could "seriously hinder" the development of the country's digital asset industry and market, and any attempt to artificially alter the equity structure of private enterprises would undermine the foundation of this emerging industry. DAXA is a self-regulatory organization representing Korea's five major cryptocurrency exchanges: Upbit, Bithumb, Korbit, Coinone, and Gopax.
Earlier this month, South Korea's Financial Services Commission proposed limiting the shareholding ratio of major shareholders in cryptocurrency exchanges to between 15% and 20% to address potential governance risks arising from concentrated equity ownership. The proposal has sparked controversy, as it could apply to existing companies with already established equity structures.