TechFlow News: On August 1, the Korea Financial Services Commission announced that with the implementation of the Virtual Asset User Protection Act, virtual asset exchanges such as Upbit and Bithumb will be required to pay regulatory contribution fees starting in 2025. The fee is calculated based on 2024 revenue, with an estimated total amount of approximately 300 million KRW.
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The contribution rate is 0.0002686818 of annual revenue;
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Upbit is expected to pay about 272 million KRW, the highest among all;
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Exchanges with revenues below 3 billion KRW (such as Korbit) are temporarily exempted;
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Some loss-making exchanges (such as Coinone and Gopax) are also required to pay;
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