South Korea’s financial regulator imposes 0.6% regulatory fee on crypto exchanges

Odaily Planet Daily News According to the Electronic Times, the Financial Supervisory Service (FSS) of South Korea has asked crypto exchanges to pay a total of 7.9 billion won (about 5.54 million US dollars) in annual regulatory fees. The fee is set at 0.6%, higher than the initially estimated 0.4%. These fees are payable quarterly by the end of March, May, July and October each year. Except for Korbit (whose operating income is less than 3 billion won, about 2.08 million US dollars), the fees are distributed as follows: Upbit operator Dunamu will pay 6.7 billion won (about 4.64 million US dollars); Bithumb will pay 900 million won (about 624,000 US dollars); Coinone will pay 150 million won (about 104,000 US dollars); Gopax will pay about 21.35 million won (about 14,800 US dollars). The total fees for the four major exchanges are about 7.9 billion won (about 5.54 million US dollars).