[South Korea's Digital Asset Exchange Alliance DAXA Opposes Proposed Shareholding Cap by Government] BlockBeats News, January 13, according to The Block, the South Korea Digital Asset Exchange Alliance (DAXA) issued a statement strongly opposing the government's consideration of imposing a cap on the shareholding ratio of major shareholders in digital asset exchanges. On Tuesday, DAXA warned in a statement that the proposed restrictions could 'severely hinder' the development of the country's digital asset industry and market, and any attempt to artificially alter the equity structure of private enterprises would undermine the foundation of emerging industries. DAXA is a self-regulatory organization representing South Korea's five major cryptocurrency exchanges—Upbit, Bithumb, Korbit, Coinone, and Gopax. Earlier this month, South Korea's Financial Services Commission proposed limiting the shareholding ratio of major shareholders in cryptocurrency exchanges to between 15% and 20% to address potential governance risks arising from concentrated ownership. The proposal has sparked controversy as it could apply to existing companies with already established equity structures.