South Korean Brokerage Korea Investment & Securities Explores Stake in Coinone Amid Regulatory Shifts

South Korean brokerage Korea Investment & Securities (KIS) is reportedly in discussions to acquire a stake in crypto exchange Coinone, according to Korean media reports. The potential investment is being evaluated amid regulatory developments in South Korea that could reshape the ownership structure of major crypto exchanges. The Korea Herald cited sources familiar with the matter, stating that KIS has engaged with regulators and politicians as part of its due diligence process. Coinone has not confirmed any specific transaction, but the reported talks highlight the evolving landscape for crypto exchanges in the country. The proposed regulatory changes include a potential 20% cap on major shareholders’ stakes in domestic crypto exchanges. This measure, agreed upon by the South Korean government and ruling party on March 4, aims to prevent excessive concentration of ownership. Coinone Chairman Cha Myung-hoon currently holds approximately 53.44% of the exchange, meaning a stake sale could be necessary if the cap becomes law. The three-year adjustment period outlined in the proposal would allow exchanges to restructure their ownership to comply with the new rules. KIS’s potential move aligns with broader industry trends in South Korea, where major financial firms are seeking to strengthen their presence in the crypto sector. Mirae Asset Group, for instance, agreed to acquire a controlling stake in Korbit earlier this year. KIS, which reported a net profit of over 2 trillion won (about $1.3 billion) in 2025, is well-positioned to pursue such an investment. The reported talks also follow Naver Financial’s delayed plans to acquire Dunamu, the operator of Upbit, as regulatory reviews and market conditions continue to evolve. The regulatory shift reflects South Korea’s ongoing efforts to balance innovation and oversight in the crypto market. By limiting shareholder stakes, authorities aim to promote competition and reduce risks associated with concentrated ownership. The impact of these changes could be significant, particularly for exchanges like Coinone, which may need to divest shares to comply with the new rules. As the industry adapts, the involvement of established financial institutions like KIS could signal a broader trend of institutional participation in the crypto space.