Kiwoom Securities Seeks Bithumb Stake Amid South Korea’s Crypto Rule Changes

South Korea’s Kiwoom Securities is in talks to acquire a stake in crypto exchange Bithumb through a planned third-party issuance of new shares, with the investment size and ownership share still under negotiation.

The potential deal comes as Korean brokerage firms accelerate their push into the digital asset sector in anticipation of a regulatory framework for security token offerings (STOs) and stablecoins.

Meanwhile, the Financial Services Commission (FSC) is preparing ownership rules for cryptocurrency exchanges that would set a general 20% cap for major shareholders, with limited exceptions allowing up to 34%. If the proposal takes effect, Bithumb Holdings would need to reduce its controlling 73.56% interest in Bithumb by more than 50 percentage points.

Source: Chosun Biz