South Korea's Big Five Exchange Alliance DAXA strongly opposes the "shareholder ownership cap" proposal, saying it will harm competitiveness and user protection
WuBlockJan 13, 2026The Korea Digital Asset Exchange Association (DAXA), representing the five major exchanges such as Upbit and Bithumb, has issued a statement strongly opposing the South Korean government's proposal to limit the shareholding ratio of major shareholders in crypto exchanges to 15%-20%.DAXA warned that artificially changing the equity structure of private companies would shake the foundations of the industry, leading to a loss of global competitiveness and users flowing overseas.In addition, DAXA emphasized that major shareholders have ultimate responsibility for user assets, and that forced dispersion of equity would dilute accountability and harm user protection.The alliance called on the government to reconsider this regulation, which could undermine property rights and market economy principles.[TheBlock]
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South Korea's Big Five Exchange Alliance DAXA strongly opposes the "shareholder ownership cap" proposal, saying it will harm competitiveness and user protection
WuBlockJan 13, 2026The Korea Digital Asset Exchange Association (DAXA), representing the five major exchanges such as Upbit and Bithumb, has issued a statement strongly opposing the South Korean government's proposal to limit the shareholding ratio of major shareholders in crypto exchanges to 15%-20%.DAXA warned that artificially changing the equity structure of private companies would shake the foundations of the industry, leading to a loss of global competitiveness and users flowing overseas.In addition, DAXA emphasized that major shareholders have ultimate responsibility for user assets, and that forced dispersion of equity would dilute accountability and harm user protection.The alliance called on the government to reconsider this regulation, which could undermine property rights and market economy principles.[TheBlock]
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