BlockBeats News, December 30, according to KBS reports, the Financial Services Commission (FSC) of South Korea's parliamentary report on the "Basic Digital Asset Law" revealed that domestic cryptocurrency exchanges in South Korea with 11 million users (Upbit, Bithumb, Coinone, and Korbit) have been defined as "core infrastructure" for virtual asset circulation. The FSC believes that a few founders and shareholders exert excessive control over the operation of the exchanges, and it suggests restricting the ownership distribution criteria of major shareholders to between 15% and 20%. Holding up to 30% of the shares is only allowed in special cases approved by mutual funds or the Financial Services Commission.If these criteria are confirmed, the operator of Upbit (South Korea's largest crypto platform), Dunamu, may be affected, as the Chairman of Dunamu holds about 25% of Upbit's shares. Bithumb is also within the scope of this regulation, as Bithumb is owned by Bithumb Holdings Limited with a 73% stake. The South Korean crypto industry has criticized this move, stating that the government is attempting to impose excessive regulation beyond market norms.