The Korean FSC is reviewing whether Hana Bank's acquisition of Dunamu shares violates regulatory rules
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According to iNews24, the Financial Services Commission (FSC) of South Korea is reviewing whether Hana Bank's acquisition of Dunamu shares violates the "separation of finance and virtual assets" regulatory rules. The virtual assets department of the Financial Services Commission stated that Hana Bank indirectly holds shares in Dunamu through its acquisition of Kakao Investment shares, which is essentially an investment in a virtual asset exchange and will be examined under the same standards.
Since 2017, the South Korean government has prohibited financial institutions from holding, purchasing virtual assets, or making equity investments through administrative guidance. If a violation occurs, Hana Bank may not be able to complete the transaction. Future Asset Consulting is advancing the acquisition of Kobit's operating rights, and Korea Investment & Securities is also taking a cautious approach. Hana Bank previously announced the acquisition of a 6.55% stake in Dunamu but did not consult with the authorities beforehand.
Currently, the "separation of finance and virtual assets" regulation has not yet been codified into law, and it is uncertain whether related provisions will be included in the digital asset bill. Legislative discussions may advance after the National Assembly reconvenes in September at the earliest.
-- Price
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