According to eToday, South Korea's Financial Services Commission is pushing for a draft of the "Digital Asset Basic Law" to be submitted this month. The draft proposes changing the regulation of cryptocurrency exchanges from the current reporting system to a licensing system, and considers setting a 15%–20% cap on major shareholders' holdings in exchanges. Existing exchanges may be granted a 1–2 year transition period to sell shares exceeding the cap; considering property rights disputes, restricting shareholder voting rights is also listed as an alternative. Regarding stablecoin issuance, regulators prefer that bank-led consortia be responsible for issuance. The bill may also introduce no-fault liability for exchanges in the event of hacking attacks or system failures, and list violations of obligations to actually hold users' crypto assets as grounds for suspension of operations. https://www.(wublock123.com)/news/south-korea-plans-to-limit-the-shareholding-ratio-of-major-shareholders-in-cryptocurrency-exchanges-to-15-20-and-existing-platforms-may-receive-a-two-year-transition-period-71553