The Financial Services Commission has proposed new governance rules forcing Upbit, Bithumb, Coinone and Korbit to cut major owners' stakes to 15–20%, aiming to reduce concentration and conflicts of interest.
Bithumb will close its USDT market and end a shared order book with Australia’s Stellar Exchange after just two months as regulators scrutinize its anti–money laundering controls. The move follows an ongoing probe by South Korean authorities.