Traditional financial giants spin off cryptocurrency businesses as South Korean brokerages enter the crypto space

South Korea's financial giant Mirae Asset is reportedly spinning off its cryptocurrency business into an independent company. Internal sources indicate that the new company will focus on Bitcoin and Ethereum trading and may issue its own tokens, while the existing securities business will continue to operate traditional financial products.

​​Three major motivations for the spin-off​​

​​Avoiding regulatory risks​​: South Korean financial regulators require cryptocurrency businesses to be separated from traditional businesses, and violators face hefty fines (such as Bithumb being fined 30 billion won);​​Targeting the institutional market​​: Following Samsung Securities' profit model through Bitcoin custody, Mirae Asset plans to focus on high-net-worth clients for crypto services;​​Betting on policy relaxation​​: If South Korea passes the Digital Assets Basic Law, the independent company can quickly apply for licenses to capture the market.

​​Asian institutions accelerate their layout​​

Mitsubishi UFJ Financial Group in Japan invested $280 million to establish a cryptocurrency subsidiary that provides Bitcoin corporate loans; Hong Kong's Value Partners has split its digital asset team, managing over 1 billion HKD. Traditional financial institutions are quietly entering the market through spin-offs.

​​Retail investor risk warnings​​

​​Conflict of interest​​: Brokerages may divert funds from traditional businesses into the crypto market, with profits and losses unrelated to clients;​​Liability separation​​: If the cryptocurrency business faces issues, the parent company can evade joint liability due to its independent legal status.

​​Controversy focus​​

While institutions like Goldman Sachs and BlackRock in Europe and the U.S. are still observing, Asian capital has aggressively entered the fray. Is this move a breakthrough in the compliance of the financial system, or a new model for institutions to harvest retail investors? If Mirae Asset's spin-off is successful, will investors be willing to compete alongside giants?

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