South Korea’s Fair Trade Commission has approved Mirae Asset Group’s acquisition of a 92.06% stake in cryptocurrency exchange Korbit, clearing what Techub, citing The Korea Herald, described as the first case of a Korean financial group taking control of a digital asset exchange. The approval sets a precedent for a financial group to fully run a crypto trading platform in the country. Earlier, Financial Services Commission Chairman Lee Eok-won had said changes in the regulatory framework needed to be assessed in a comprehensive way. The deal also stands apart from cases in which conglomerates such as Samsung only held minority stakes. Market attention is now turning to the progress of the proposed Naver-Dunamu merger.
South Korea’s Fair Trade Commission has approved Mirae Asset Group’s acquisition of a 92.06% stake in cryptocurrency exchange Korbit, according to Techub, citing The Korea Herald. The deal makes Mirae Asset the first Korean financial group to take a controlling stake in a digital asset exchange.
The approval sets a precedent for a financial group to fully operate a cryptocurrency exchange in South Korea. Earlier, Financial Services Commission Chairman Lee Eok-won said changes in the regulatory framework needed to be assessed comprehensively.
The transaction differs from cases in which companies such as Samsung only held minority stakes. The market is also watching developments in the proposed Naver-Dunamu merger.
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