According to Chosun Biz, South Korea's Kiwoom Securities is seeking to acquire a stake in Bithumb, the country's second-largest virtual asset exchange. The two parties are discussing issuing new shares through a third-party placement, with the specific equity ratio and investment scale still under negotiation. South Korean securities firms are racing to enter the virtual asset industry ahead of the institutionalization of Security Token Offerings (STOs) and stablecoins. The South Korean Financial Services Commission is also discussing major shareholder equity regulations in the second phase of the virtual asset law, which would, in principle, limit major shareholders of virtual asset exchanges to a 20% stake, with exceptions allowing up to 34%. Bithumb's largest shareholder, Bithumb Holdings, currently holds a 73.56% stake. If the relevant regulations are implemented, they would need to reduce their holdings by over 50 percentage points. https://(wublock123.com)/news/kiwoom-securities-to-acquire-stake-in-bithumb-via-third-party-placement-63634