South Korean regulator seeks to amend regulations to regulate major shareholders of crypto exchanges
2024-10-24 12:42:48
Korea financial services commission fsc positive accumulation promotion amendment lawdesk3cryptocurrencydesktopCrypto News
South Korea's Financial Services Commission (FSC) is actively pushing for amendments to the law to critically scrutinize major shareholders and governance of crypto exchanges. Currently, the FSC lacks the statutory authority to scrutinize shareholders under existing laws, including the Virtual Asset User Protection Act. In a parliamentary audit, FSC Chairperson Kim Byoung-hwan said that amendments to the Act on Reporting and Use of Specific Financial Transaction Information have been submitted to provide a legal basis for the FSC to assess the eligibility of major shareholders.
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