Hana Bank's 6.55% Dunamu Stake Acquisition Under FSC Review Over Virtual Asset Rules

According to iNews24, South Korea’s Financial Supervisory Commission (FSC) is reviewing whether Hana Bank’s indirect acquisition of a 6.55% stake in Dunamu violates the country’s “separation of finance and virtual assets” regulation. The FSC’s Virtual Assets Department stated that Hana Bank’s acquisition of Kakao Investment shares effectively represents an investment in a virtual asset exchange and will be evaluated under the same standards. Since 2017, South Korea has prohibited financial institutions from holding, purchasing virtual assets, or making equity investments through administrative guidance. If the deal violates the rules, Hana Bank may be unable to complete the transaction. The regulatory framework remains unlegislated, with potential inclusion in the Digital Assets Act under discussion, with legislative proceedings potentially resuming after the National Assembly reconvenes in September.