Kiwoom Securities Seeks Strategic Investment in Bithumb on June 29; Korean Regulator Proposes 20% Shareholding Cap

According to BlockBeats, Kiwoom Securities, a major Korean broker, is in talks with cryptocurrency exchange Bithumb on June 29 regarding a third-party offering as a potential strategic investment. The two parties are negotiating shareholding ratio and investment scale details. This move follows similar investments by Samsung Securities, Future Asset, and Korea Investment Securities. The entry of brokers into Bithumb ownership comes as South Korea's financial regulator advances phase two of virtual asset law reforms, proposing to cap major shareholder stakes at 20% (with exceptions allowing up to 34%). Bithumb's current largest shareholder, Bithumb Holdings, owns 73.56% of the exchange, and would face significant share reduction pressure if the regulations take effect. Bithumb is simultaneously pursuing a KOSDAQ listing with Samsung Securities as lead underwriter.
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