The South Korean financial regulator imposes a 0.6% regulatory fee on cryptocurrency exchanges

According to ChainCatcher news, the Financial Supervisory Service (FSS) of South Korea has requested that cryptocurrency exchanges pay a total of 7.9 billion won (approximately 5.54 million USD) in annual regulatory fees. This fee is set at 0.6%, higher than the initially expected 0.4%. These fees must be paid quarterly by the end of March, May, July, and October each year. The fee distribution is as follows, except for Korbit (whose operating revenue is below 3 billion won, approximately 2.08 million USD):

• Upbit operator Dunamu will pay 6.7 billion won (approximately 4.64 million USD);
• Bithumb will pay 900 million won (approximately 624,000 USD);
• Coinone will pay 150 million won (approximately 104,000 USD);
• Gopax will pay about 21.35 million won (approximately 14,800 USD).

The total fees for the four major exchanges amount to approximately 7.9 billion won (around 5.54 million USD).