The major Korean exchanges have recently been making a lot of noise over a certain issue. The government is trying to limit the shareholding ratio of major shareholders in crypto exchanges, setting the cap at around 15%-20%. Once the news broke, the exchanges immediately issued a joint statement opposing the move.

Their reasoning is actually understandable. Direct intervention in the equity structure of private enterprises is no small matter—if enforced, it could shake the very foundation of the industry. Think about it: without stable capital support, how can these exchanges compete with global rivals? A more practical concern is that if users feel that local exchanges are no longer reliable, they can easily switch to overseas platforms.

The exchanges generally believe that this "one-size-fits-all" regulatory approach ignores the actual operational needs of the industry. Forcibly changing the ownership structure could lead to a sharp decline in the international competitiveness of local platforms, ultimately harming the healthy development of the entire market. Currently, both sides are still arguing, and how this will develop remains to be seen.