The Korean financial circle is causing trouble again. Recently, there have been reports that Future Asset Group is pushing forward with the acquisition of Korbit. This domestically-based cryptocurrency exchange, ranked fourth, has been operating at a loss for many years, and now it seems to be finally taken over by major capital.

Specifically, Future Asset has already signed a memorandum of understanding (MOU) with Korbit's largest shareholder NXC and second-largest shareholder SK Planet. All shares held by these two shareholders are within the scope of negotiations, with the transaction amount estimated to be between 100 billion and 140 billion KRW (approximately 70 million to 100 million USD). Due to confidentiality agreements, the details of the deal cannot be disclosed at this time.

The background of this move is quite interesting. Korea has recently tightened crypto regulations, which has instead accelerated capital outflows. Statistics show that last year, 160 trillion KRW flowed to overseas exchanges, and domestic exchanges have seen almost no growth. Even more interestingly, Korea is also drafting new regulations that propose limiting the shareholding ratio of major shareholders in exchanges to no more than 20%, which could force leading platforms like Upbit and Bithumb to undergo restructuring.

Against this backdrop, the entry of traditional financial giants like Future Asset is particularly significant. Although Korbit's market share is less than 1%, with the injection of capital and operational support from a capable financial group, whether this fourth-ranked exchange can turn around or challenge the monopoly of Upbit and Bithumb remains to be seen.

Ultimately, this is still a new round of testing by traditional finance on the crypto market. Policy changes, capital flows, and market structure adjustments are causing a deep transformation in Korea's crypto industry.