Regulation· ★★★· neutral·

Dunamu (Upbit) and NAVER Pay share swap faces regulatory conflict

  • —The Fair Trade Act requires a holding company to own at least 30% of a listed subsidiary and 50% of an unlisted one
  • —South Korea's crypto legislation is discussing an upper limit on the largest shareholder's stake in an exchange
  • —NAVER Pay is not yet a holding company, but if its status changes, both requirements could come into conflict
Why it matters: A possible restructuring would affect South Korea's largest exchange, Upbit, and could set a precedent for regulating ownership concentration in crypto exchanges.
Source: PANews
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