South Korean regulator seeks to revise rules to monitor major shareholders of crypto exchanges
the Financial Services Commission (FSC) of South Korea is actively pushing for revisions to the law to strictly review the major shareholders and governance of cryptocurrency exchanges. Currently, under existing laws including the Virtual Asset User Protection Act, the FSC lacks the legal authority to review shareholders. During a parliamentary audit, FSC Chairman Kim Byoung-hwan stated that a revised version of the Specific Financial Transactions Information Act has been submitted to provide legal basis for the FSC to evaluate major shareholder qualifications.
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