“Cryptocurrency market that invested tens of billions of dollars and entered securities companies” Incorporation into the institutional rights ‘signal’

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Citizens are passing in front of Upbit Lounge, a cryptocurrency trading site in Gangnam-gu, Seoul that has been suspended to prevent the spread of the new coronavirus infection (Corona 19). 2020.3.13/News1 © News1 Reporter Park Ji-hye

Hanwha Investment & Securities has become a major shareholder of Doonamu, the operator of the cryptocurrency trading site’Upbit’. As the cryptocurrency trading industry, which has been regarded as’fraud’, enters the legal framework, the incorporation of institutional rights is visible.

On the 3rd, Hanwha Investment & Securities announced that it would acquire 2,694,450 shares of Dunamu, which operates a cryptocurrency trading site’Upbit’, for 583.2995 million won. With this decision to acquire, Hanwha Investment & Securities’ stake in Dunamu will be 6.15%. The stock acquisition date is scheduled for February 22nd, and the seller is Qualcomm.

Recently, it has been discovered that traditional financial sectors, mainly domestic banks, are jumping into the cryptocurrency industry, but it is unusual for securities companies to openly invest in cryptocurrency trading sites.

The industry predicted that the cryptocurrency trading industry, which had been in the doldrums of regulation, will be incorporated into the system through amendments to the Act on Reporting and Use of Specific Financial Transaction Information (Special Law), and new capital will be introduced. The background of Hanwha Investment & Securities’ investment on this day is evaluated as a signal for the incorporation of the cryptocurrency system.

The cryptocurrency market has received public attention as it overheated abnormally in 2017. At that time, cryptocurrency disclosure (ICO), which raised funds in the early stages of business with cryptocurrency, emerged, and development companies (projects) aimed at hantang appeared, along with negative public perception that “cryptocurrency is a fraud”. Here, the government’s anti-cryptocurrency policy overlaps, and the related industry has grown slowly compared to the global market.

However, as the government tried to incorporate the cryptocurrency industry into the institutional sector last year, the currents began to change. The amendment to the Special Money Act passed the National Assembly in March of last year, and the Ministry of Strategy and Finance announced a taxation plan for the profits from cryptocurrency investments in July of the same year (the taxation took effect in January 2022).

In particular, the revised bill of the Special Act has been regarded as a major factor in making the domestic cryptocurrency investment ecosystem even healthier. The amendment to the Special Money Act, which will be in full force from March 25, is based on the content that domestic cryptocurrency trading sites (virtual banking business) should be regarded as’financial companies’, and regulations for money laundering and terrorist financing using cryptocurrency should be established. .

As Hanwha Investment & Securities invests in Dunamu ahead of the implementation of the revised bill of the Special Funds Act next month, there is a growing expectation that investments in related industries by traditional financial institutions will continue in the future.

An official from Hanwha Investment & Securities said, “After the recent coronavirus infection (Corona 19), the non-face-to-face, digital finance sector has been emphasized, so we have decided to invest from a mid- to long-term perspective.” There is no business.”

With this investment by Hanwha Investment & Securities, the composition of Douna’s major shareholders has also changed. According to the consolidated audit report released by Doonamu in April of last year, Doonamu’s major shareholders are ΔSong Chi-hyung, Chairman of Dounamu (26.7%) ΔKim Hyung-nyeon, vice president of Doonamu (14.3%) ΔK Cube 1 Venture Investment Association (11.7%) It consists of ΔKakao (8.1%) ΔWoori Technology Investment (8.0%) ΔHigh Growth Company Investment Association (7.0%) ΔQualcomm (6.5%) ΔKakao Youth Startup Fund (2.7%) ΔOthers (14.9%) . As Qualcomm sold its entire stake to Hanwha Investment & Securities on that day, Hanwha Investment & Securities is expected to become the seventh largest shareholder of Doonamu.

Meanwhile, Dunamu, established in 2012, is servicing the cryptocurrency trading site’Upbit’, the social trading-based stock platform’Securities Plus’ (formerly Kakaostock), and the unlisted stock integrated trading platform’Securities Plus Unlisted’.