South Korean crypto exchanges such as Upbit, Bithumb, and Coinone will pay regulatory fees from next year

From next year, virtual asset service providers in South Korea, including Dunamu (Upbit), Bithumb, and Coinone, among others, will be required to pay regulatory fees. The decision follows the approval by the State Council on December 3 of amendments to the implementation order of the Financial Services Commission (FSC) Establishment Act. Regulatory fees are calculated on the basis of operating income and paid by Financial Institution Groups such as banks, investment companies, and insurance companies to cover the FSC's inspection and supervision services.