The South Korean Federal Financial Services Commission (FSC) is reviewing whether Hana Bank's acquisition of Dunamu shares violated regulatory rules.

PANews reported on May 18th that, according to iNews24, South Korea's Financial Services Commission (FSC) is reviewing whether Hana Bank's acquisition of Dunamu shares violated the "separation of finance and virtual assets" regulatory rule. The FSC's Virtual Assets Division stated that Hana Bank's indirect holding of Dunamu shares through the acquisition of Kakao Investment's shares constitutes a virtual asset exchange investment and will be examined under the same standards. Since 2017, the South Korean government has been issuing administrative guidance prohibiting financial institutions from holding, purchasing, or investing in virtual assets. If this violation is found, Hana Bank may be unable to complete the transaction.

Mirae Asset Consulting is pursuing a takeover of Kobit, while Korea Investment & Securities is taking a cautious approach. Hana Bank previously announced its acquisition of a 6.55% stake in Dunamu, but did not consult with the authorities beforehand. Currently, regulations separating financial and virtual assets are not yet in writing, and it is uncertain whether related provisions will be included in the digital asset bill. Legislative discussions may begin as early as September after the National Assembly reconvenes.

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Author: PA一线

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