South Korean regulators seek to amend regulations to oversee major shareholders of cryptocurrency exchanges

ChainCatcher news, according to Money Today, the Financial Services Commission (FSC) of South Korea is actively promoting legal amendments to strictly review the major shareholders and governance of cryptocurrency exchanges. Currently, under existing laws including the "Virtual Asset User Protection Act," the FSC lacks the statutory authority to review shareholders. In a parliamentary audit, FSC Chairman Kim Byoung-hwan stated that an amendment to the "Act on Reporting and Using Specific Financial Transaction Information" has been submitted to provide a legal basis for the FSC to assess the qualifications of major shareholders.