Korean cryptocurrency exchanges such as Upbit, Bithumb, and Coinone will start paying regulatory fees from next year

ChainCatcher news, according to iNews24, starting next year, virtual asset service providers in South Korea, including Dunamu (Upbit), Bithumb, and Coinone, will be required to pay regulatory fees.

This decision was made after the State Council approved the amendment to the enforcement decree of the Financial Services Commission (FSC) on December 3. The regulatory fees are calculated based on operating revenue and are to be paid by financial institutions such as banks, investment companies, and insurance companies to cover the FSC's inspection and supervision services.