South Korean Academia Questions Restriction on CEX Major Shareholder Ownership: May Be Unconstitutional and Contrary to International Norms
In BlockBeats news on January 16, in response to the South Korean financial authorities' discussion on the idea of restricting the ownership stake of major shareholders of virtual asset exchanges to 15%-20%, several scholars expressed caution at the "Direction of Stablecoin Issuance and Exchange Infrastructure Institutionalization" seminar held on January 16. Professor Wen Zheyu of Sungkyunkwan University School of Business pointed out that forcibly reducing the ownership stake of major shareholders could raise concerns regarding property rights protection and entail risks of unconstitutionality. He also mentioned that compared to the equity structures of Binance and Coinbase, it is not uncommon for founders to maintain a higher ownership stake globally, and any related restrictive measures may contradict the international trend emphasizing responsible management.
Furthermore, Professor Kim Yoon-kyung of Incheon University believed that directly intervening in equity structures through percentage limits is too aggressive a measure and may weaken industry innovation and development momentum. Several participating experts suggested that regulators could guide equity dispersion and compliance development through measures such as strengthening qualifications for major shareholders and improving IPO-related systems, rather than opting for mandatory divestiture arrangements. (News1)
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