South Korea's Financial Services Commission (FSC) Chairman Lee Bok-hyun stated that proposed shareholding limits for virtual asset exchange major shareholders are designed to enhance public accountability rather than target specific companies. Speaking during a National Assembly state audit, Lee explained that as exchanges transition from a renewable reporting system to a licensed institutional model under the upcoming Digital Asset Basic Act, they require governance standards commensurate with their infrastructure status. The clarification addresses lawmaker concerns that the shareholding cap provision, absent from the FSC's original proposal, was influenced by external parties and could force major shareholders to divest trillions of won in equity. Lee confirmed that specific limit details remain open for coordination during the legislative review process to reflect stakeholder input. The government is currently finalizing its version of the Digital Asset Basic Act for imminent submission, though no definitive timeline has been announced.