Korean scholar: Restricting the shareholding ratio of major shareholders in cryptocurrency exchanges poses constitutional risks and runs counter to global trends
Foresight News reported, citing News1, that the academic community expressed concerns at the "Institutionalization Direction of Stablecoin Issuance and Trading Infrastructure" seminar held on January 16, regarding the South Korean financial authorities' consideration of limiting the shareholding ratio of major shareholders in virtual asset exchanges to 15% to 20%. Professor Moon Cheol-woo (phonetic) from the School of Business at Sungkyunkwan University pointed out that forcibly restricting the shareholding of major shareholders involves infringement of property rights and carries the risk of being unconstitutional.
Professor Moon emphasized that, referring to the equity structure of certain exchanges, founders generally maintain a relatively high shareholding ratio, and the plan of the Korean Financial Services Commission does not align with the global trend of responsible management. Professor Kim Yoon-kyung (phonetic) from Incheon University also stated that this approach is too aggressive and may weaken the motivation for innovation. Experts suggested that the issues of fundraising and equity dispersion should be addressed by strengthening the qualification review of major shareholders and establishing an independent IPO foundation, rather than adopting a forced divestiture approach.
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