Rep. Kang Jun-hyun Suggests Separating Exchange Ownership Limits from Digital Asset Bill

Rep. Kang Jun-hyun of the Democratic Party stated that virtual asset exchange major shareholder ownership limits should be discussed separately from the Digital Asset Basic Act, suggesting future amendments to the legislation. On virtual asset taxation, he emphasized maintaining principles while requiring sufficient societal consensus.

According to the Maeil Business Newspaper on May 15, Rep. Kang proposed in a recent interview that 'if legislative progress is stalled over ownership limits alone, we can later regulate at 20% or 30% based on social consensus,' prioritizing the basic law's enactment while addressing major shareholder restrictions separately.

The government currently reviews limiting major shareholders of virtual asset exchanges to 20%. Rep. Kang noted that this regulation was proposed without sufficient public discussion, stressing the need for industry input and open debate.

Regarding won-stablecoin issuance, he reported discussions on a consortium structure where banks hold majority shares while technology companies could be major shareholders, with details like circulation and payment delegated to subordinate regulations such as enforcement decrees.

On virtual asset taxation, Kang stated 'whether it's stocks or coins, tax should be paid on income' as principle. However, he added that sufficient social consensus and pre-implementation communication are necessary considering market contraction concerns.