What Mirae Asset's Korbit acquisition means for Korea

Mirae Asset Financial Group’s acquisition of local cryptocurrency exchange Korbit marks the first takeover of a digital asset exchange by a financial group in South Korea.

The move signals regulators' growing willingness to allow traditional financial groups to expand into digital assets.

Earlier this month, the country's antitrust watchdog approved Mirae Asset Consulting's acquisition of a 92.06 percent stake in Korbit.

The unit is the de facto holding company of the brokerage-led financial gro ...