Kiwoom Securities is working to acquire a stake in Bithumb, according to reporting from South Korean media, as the July deadline for the Financial Services Commission's new regulatory framework draws closer.
The move fits a pattern. Multiple traditional brokerages have begun competing to secure ownership positions in crypto exchanges before the FSC's reforms take effect. The timing reflects a calculation that existing stakes may carry advantages under new rules, whether through grandfathering provisions, compliance relief, or reduced uncertainty around ownership concentration limits.
South Korea's FSC has spent years signaling tighter oversight of exchanges. The July rules mark a formal codification of standards around real-name account verification, anti-money laundering controls, and operational transparency. Brokerages with established equity in exchanges stand to influence compliance frameworks and capital structures during the transition.
Bithumb is among the larger South Korean exchanges by volume. A Kiwoom stake would give the brokerage direct exposure to trading revenue and operational control, positioning it ahead of smaller competitors still evaluating entry strategies.
No terms or stake size have been disclosed. Kiwoom and Bithumb did not immediately respond to requests for comment.