[South Korean Financial Services Commission Responds to Controversy Over Ownership Restrictions on Virtual Asset Exchanges: Strengthening Regulatory Responsibility, Not Targeting Specific Companies] According to Yonhap News Agency, the chairman of South Korea's Financial Services Commission (FSC), Lee Bok-hyun, stated that the provision in the proposed 'Basic Act on Digital Assets' regarding restrictions on major shareholders of virtual asset exchanges is not based on directives from specific individuals but rather considers the need for exchanges to bear greater public responsibility after institutionalization. During a National Assembly Political Affairs Committee audit of the FSC, Lee Bok-hyun explained that currently, South Korean virtual asset exchanges operate under a declaration renewal system every three years. However, once the 'Basic Act on Digital Assets' is implemented, exchanges will transition to an institutionalized licensing system. He emphasized that exchanges possess the characteristics of infrastructure and, therefore, must demonstrate a level of public responsibility and accountability that aligns with their status.